Rallybio (NASDAQ:RLYB) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a report released on Wednesday morning,Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.

Rallybio Price Performance

NASDAQ:RLYB opened at $0.73 on Wednesday. The firm has a 50 day simple moving average of $0.94 and a 200-day simple moving average of $1.05. Rallybio has a 1-year low of $0.73 and a 1-year high of $3.46.

Institutional Trading of 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% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 244,986 shares of the company’s stock after acquiring an additional 24,980 shares during the period. Geode Capital Management LLC owned 0.59% of Rallybio worth $287,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Company Profile

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.