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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $5.00 price target on the stock.

Rallybio Trading Up 14.4 %

Shares of NASDAQ:RLYB opened at $0.73 on Monday. The company has a market cap of $30.47 million, a price-to-earnings ratio of -0.46 and a beta of -1.45. The company has a 50-day moving average price of $0.80 and a 200-day moving average price of $0.97. Rallybio has a 12 month low of $0.62 and a 12 month high of $3.46.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.15 million. As a group, research analysts forecast that Rallybio will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Rallybio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northeast Financial Consultants Inc increased its position in shares of Rallybio by 336.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after buying an additional 74,334 shares during the period. Allostery Investments LP purchased a new position in shares of Rallybio during the fourth quarter valued at about $771,000. Almitas Capital LLC increased its position in shares of Rallybio by 48.3% during the fourth quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock valued at $1,246,000 after buying an additional 422,685 shares during the period. Renaissance Technologies LLC increased its position in shares of Rallybio by 9.3% during the fourth quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after buying an additional 37,618 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after buying an additional 24,980 shares during the period. 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.