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

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

Rallybio Stock Down 4.4 %

Shares of Rallybio stock opened at $0.75 on Wednesday. The firm has a market capitalization of $30.95 million, a P/E ratio of -0.47 and a beta of -1.49. The company has a 50 day moving average price of $0.95 and a 200 day moving average price of $1.05. Rallybio has a 52 week low of $0.73 and a 52 week high of $3.46.

Hedge Funds Weigh In On Rallybio

A hedge fund recently raised its stake in Rallybio stock. Geode Capital Management LLC lifted its position in shares of Rallybio Co. (NASDAQ:RLYB) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,986 shares of the company’s stock after purchasing 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 SEC filing. Institutional investors and hedge funds 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.