Rallybio (NASDAQ:RLYB) Stock Rating Reaffirmed by HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $9.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 373.68% from the stock’s previous close.

A number of other research firms also recently weighed in on RLYB. JMP Securities reaffirmed a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a research note on Thursday, April 18th. Jefferies Financial Group lowered shares of Rallybio from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, Wedbush dropped their price objective on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.20.

Rallybio Stock Performance

Shares of RLYB stock opened at $1.90 on Friday. The company has a market cap of $71.84 million, a P/E ratio of -1.03 and a beta of -1.63. Rallybio has a fifty-two week low of $1.23 and a fifty-two week high of $9.14. The stock has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $2.16.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). On average, research analysts predict that Rallybio will post -1.6 earnings per share for the current year.

Institutional Trading of Rallybio

Institutional investors have recently made changes to their positions in the company. abrdn plc purchased a new position in Rallybio during the fourth quarter worth about $4,128,000. Financial Security Advisor Inc. purchased a new position in shares of Rallybio in the 3rd quarter worth approximately $169,000. Finally, SG Americas Securities LLC bought a new position in shares of Rallybio in the fourth quarter valued at approximately $40,000. 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.