HC Wainwright Reiterates “Neutral” Rating for Rallybio (NASDAQ:RLYB)

Rallybio (NASDAQ:RLYB)‘s stock had its “neutral” rating restated by equities researchers at HC Wainwright in a note issued to investors on Wednesday, Marketbeat Ratings reports.

Rallybio Stock Performance

RLYB stock opened at $0.25 on Wednesday. The company has a market capitalization of $10.43 million, a price-to-earnings ratio of -0.16 and a beta of -1.35. The business’s 50 day moving average price is $0.66 and its two-hundred day moving average price is $0.89. Rallybio has a fifty-two week low of $0.22 and a fifty-two week high of $3.46.

Rallybio (NASDAQ:RLYB) last announced its earnings results on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.15 million. Sell-side analysts forecast that Rallybio will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Rallybio

Institutional investors and hedge funds have recently made changes to their positions in the business. Allostery Investments LP purchased a new stake in shares of Rallybio in the 4th quarter worth approximately $771,000. Almitas Capital LLC grew its stake in shares of Rallybio by 48.3% in the fourth quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after acquiring an additional 422,685 shares during the last quarter. Northeast Financial Consultants Inc increased its holdings 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 acquiring an additional 74,334 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Rallybio by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock worth $424,000 after purchasing an additional 37,618 shares during the last quarter. Finally, FMR LLC boosted its stake in Rallybio by 1.1% in the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after purchasing an additional 25,422 shares in the last quarter. 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.