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

HC Wainwright reaffirmed their neutral rating on shares of Rallybio (NASDAQ:RLYB) in a research note published on Wednesday morning, MarketBeat.com reports.

Rallybio Stock Performance

Rallybio stock traded up $0.00 during midday trading on Wednesday, reaching $0.25. 118,651 shares of the company were exchanged, compared to its average volume of 480,938. Rallybio has a 1 year low of $0.22 and a 1 year high of $3.46. The company has a market capitalization of $10.49 million, a price-to-earnings ratio of -0.16 and a beta of -1.35. The firm’s 50-day simple moving average is $0.67 and its 200-day simple moving average is $0.90.

Rallybio (NASDAQ:RLYB) last released its earnings results on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.15 million. On average, 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 company. Allostery Investments LP acquired a new stake in shares of Rallybio in the fourth quarter worth $771,000. Almitas Capital LLC increased 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 buying an additional 422,685 shares during the last quarter. Northeast Financial Consultants Inc raised its holdings in Rallybio by 336.5% in 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 boosted its stake in Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after acquiring an additional 37,618 shares during the last quarter. Finally, FMR LLC grew its holdings in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after acquiring an additional 25,422 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

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.