Rallybio (NASDAQ:RLYB) Given New $12.00 Price Target at HC Wainwright

Rallybio (NASDAQ:RLYBFree Report) had its target price lowered by HC Wainwright from $17.00 to $12.00 in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

RLYB has been the subject of several other research reports. Jefferies Financial Group cut Rallybio from a buy rating to a hold rating in a research note on Wednesday. Wedbush decreased their target price on Rallybio from $16.00 to $14.00 and set an outperform rating for the company in a research note on Friday, November 10th. Finally, Evercore ISI decreased their target price on Rallybio from $18.00 to $15.00 and set an outperform rating for the company in a research note on Thursday, December 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $13.20.

View Our Latest Stock Analysis on Rallybio

Rallybio Trading Up 9.0 %

Rallybio stock opened at $1.69 on Wednesday. Rallybio has a 12 month low of $1.23 and a 12 month high of $9.88. The stock has a 50-day moving average price of $2.13 and a two-hundred day moving average price of $3.58.

Rallybio (NASDAQ:RLYBGet Free Report) last posted its earnings results on Thursday, November 9th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.06. As a group, equities analysts predict that Rallybio will post -1.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rallybio

A number of hedge funds have recently added to or reduced their stakes in RLYB. Bank of New York Mellon Corp grew its stake in Rallybio by 145.6% in the first quarter. Bank of New York Mellon Corp now owns 41,688 shares of the company’s stock valued at $291,000 after acquiring an additional 24,711 shares during the period. Rhumbline Advisers bought a new position in shares of Rallybio in the first quarter valued at approximately $91,000. BlackRock Inc. lifted its holdings in shares of Rallybio by 88.6% in the first quarter. BlackRock Inc. now owns 908,164 shares of the company’s stock valued at $6,339,000 after purchasing an additional 426,656 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Rallybio by 122.0% in the first quarter. Vanguard Group Inc. now owns 710,049 shares of the company’s stock valued at $4,956,000 after purchasing an additional 390,170 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Rallybio by 134.9% in the first quarter. American International Group Inc. now owns 8,984 shares of the company’s stock valued at $63,000 after purchasing an additional 5,160 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.

About Rallybio

(Get Free Report)

Rallybio Corporation, a clinical-stage biotechnology company, engages in identifying, accelerating, and development 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 is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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