Rallybio (NASDAQ:RLYB) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.

Rallybio Stock Down 4.0 %

RLYB stock opened at $0.75 on Wednesday. The business has a 50 day moving average of $0.93 and a 200-day moving average of $1.04. The firm has a market cap of $31.26 million, a PE ratio of -0.47 and a beta of -1.49. Rallybio has a 12-month low of $0.73 and a 12-month high of $3.46.

Institutional Investors Weigh In On Rallybio

Several large investors have recently made changes to their positions in RLYB. FMR LLC grew its position in Rallybio by 1.1% during the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after buying an additional 25,422 shares during the period. Geode Capital Management LLC boosted its stake in Rallybio by 11.4% in the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after acquiring an additional 24,980 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Rallybio by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after acquiring an additional 37,618 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Company Profile

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.