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

HC Wainwright restated their neutral rating on shares of Rallybio (NASDAQ:RLYB) in a research report released on Wednesday, MarketBeat Ratings reports.

Rallybio Price Performance

Shares of Rallybio stock traded up $0.00 during trading hours on Wednesday, hitting $0.25. The company had a trading volume of 118,651 shares, compared to its average volume of 480,938. The company’s 50-day moving average is $0.67 and its two-hundred day moving average is $0.90. Rallybio has a twelve month low of $0.22 and a twelve month high of $3.46. The company has a market cap of $10.49 million, a P/E ratio of -0.16 and a beta of -1.35.

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

Hedge Funds Weigh In On Rallybio

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Rallybio by 1.1% during the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after buying an additional 25,422 shares during the period. Almitas Capital LLC boosted its stake in shares of Rallybio by 48.3% during the 4th 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 in the last quarter. Allostery Investments LP acquired a new stake in shares of Rallybio in the 4th quarter worth approximately $771,000. Renaissance Technologies LLC increased its stake in Rallybio by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after purchasing an additional 37,618 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after purchasing an additional 24,980 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

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.