RLYB - Rallybio spikes as Wedbush initiates at Outperform

2023-04-10 09:21:27 ET

• Shares of Rallybio Corporation ( NASDAQ: RLYB ) gained ~9% pre-market Monday after Wedbush initiated its coverage with an Outperform rating and a $17 price target citing its lead program RLYB212 and the potential of its management.
• "Simply put, we see RLYB holding a unique mix of differentiated assets and experienced management team that can execute on strategic goals and initiatives," the analyst Laura Chico wrote.
• Chico's estimates on Rallybio ( RLYB ) are only based on the company's net cash and its program for RLYB212 targeted at the prevention of fetal and neonatal alloimmune thrombocytopenia ("FNAIT"), a rare bleeding disorder found in fetuses and newborns.
• That "leaves the remainder of the pipeline as upside," the analyst added, noting a favorable risk-reward setup as the stock, trading above cash, limits further downside risk.
• Seeking Alpha contributor Avisol Capital Partners issued a Hold rating on Rallybio ( RLYB ) in March, citing the need for a speculative entry point.

For further details see: