Rallybio’s (RLYB) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research note released on Monday,Benzinga reports. They currently have a $5.00 target price on the stock.

Rallybio Stock Up 1.6 %

Shares of Rallybio stock opened at $0.64 on Monday. Rallybio has a twelve month low of $0.62 and a twelve month high of $3.46. The business has a 50-day moving average price of $0.81 and a 200 day moving average price of $0.97. The firm has a market cap of $26.64 million, a PE ratio of -0.40 and a beta of -1.45.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.02. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.15 million. On average, sell-side analysts expect that Rallybio will post -1.34 EPS for the current year.

Hedge Funds Weigh In On Rallybio

Several institutional investors and hedge funds have recently modified their holdings of RLYB. Allostery Investments LP purchased a new stake in Rallybio during the 4th quarter worth approximately $771,000. Almitas Capital LLC increased its stake in Rallybio by 48.3% during the 4th quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after buying an additional 422,685 shares in the last quarter. Northeast Financial Consultants Inc increased its stake in Rallybio by 336.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock worth $93,000 after buying an additional 74,334 shares in the last quarter. Renaissance Technologies LLC increased its stake in Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock worth $424,000 after buying an additional 37,618 shares in the last quarter. Finally, FMR LLC increased its stake in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after buying an additional 25,422 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.