HC Wainwright Cuts Rallybio (NASDAQ:RLYB) Price Target to $5.00

Rallybio (NASDAQ:RLYB) had its price target reduced by analysts at HC Wainwright from $6.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 400.00% from the stock’s current price.

Separately, Evercore ISI restated an “outperform” rating and set a $15.00 target price on shares of Rallybio in a report 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Rallybio Stock Performance

Shares of NASDAQ:RLYB opened at $1.00 on Friday. The stock has a 50-day simple moving average of $1.08 and a 200-day simple moving average of $1.32. The stock has a market capitalization of $41.49 million, a P/E ratio of -0.56 and a beta of -1.67. Rallybio has a 1 year low of $0.96 and a 1 year high of $3.46.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million for the quarter. Analysts predict that Rallybio will post -1.45 earnings per share for the current year.

Institutional Trading of Rallybio

A number of hedge funds have recently made changes to their positions in RLYB. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rallybio in the second quarter valued at $61,000. Almitas Capital LLC acquired a new position in Rallybio in the 2nd quarter worth $135,000. Hsbc Holdings PLC purchased a new position in Rallybio in the 2nd quarter valued at about $25,000. Johnson & Johnson acquired a new stake in shares of Rallybio during the second quarter valued at about $4,873,000. Finally, Acadian Asset Management LLC increased its position in shares of Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after acquiring an additional 36,401 shares during the last quarter. Hedge funds and other 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.