Rallybio (NASDAQ:RLYB) Earns Buy Rating from HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $5.00 target price on the stock.

Rallybio Price Performance

Shares of NASDAQ RLYB opened at $0.75 on Wednesday. The firm’s 50 day simple moving average is $0.95 and its 200-day simple moving average is $1.05. Rallybio has a 12 month low of $0.73 and a 12 month high of $3.46. The stock has a market capitalization of $30.95 million, a price-to-earnings ratio of -0.47 and a beta of -1.49.

Institutional Investors Weigh In On Rallybio

A hedge fund recently raised its stake in Rallybio stock. Geode Capital Management LLC boosted its stake in Rallybio Co. (NASDAQ:RLYB) by 11.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 244,986 shares of the company’s stock after acquiring an additional 24,980 shares during the quarter. Geode Capital Management LLC owned 0.59% of Rallybio worth $287,000 as of its most recent filing with the SEC. 90.34% of the stock is owned by institutional investors.

About Rallybio

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.