HC Wainwright Issues Pessimistic Forecast for Rallybio (NASDAQ:RLYB) Stock Price

Rallybio (NASDAQ:RLYB) had its price target cut by HC Wainwright from $6.00 to $5.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Evercore ISI reissued an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Rallybio Price Performance

Shares of NASDAQ RLYB opened at $1.05 on Friday. The business’s 50 day moving average is $1.08 and its two-hundred day moving average is $1.32. Rallybio has a 1-year low of $0.96 and a 1-year high of $3.46. The stock has a market capitalization of $43.56 million, a P/E ratio of -0.66 and a beta of -1.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Rallybio by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares in the last quarter. Hsbc Holdings PLC bought a new position in Rallybio in the second quarter worth approximately $25,000. Acadian Asset Management LLC bought a new position in Rallybio in the first quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rallybio in the second quarter worth approximately $61,000. Finally, Almitas Capital LLC bought a new position in Rallybio in the second quarter worth approximately $135,000. Institutional investors own 90.34% of the company’s stock.

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.