Rallybio initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor initiated coverage of Rallybio with a Buy rating and $18 price target. The company is focused on development of therapies for severe and rare diseases, the analyst tells investors in a research note. The firm believes Rallybio’s lead asset, RLYB212, could become a standard-of-care therapeutic for the prevention of fetal and neonatal alloimmune thrombocytopenia, a rare immune disorder in which, either in utero or at birth, a baby’s platelets are identified as foreign by the mother’s immune system.