Rallybio initiated with an Overweight at JPMorgan

JPMorgan analyst Anupam Rama initiated coverage of Rallybio with an Overweight rating and $21 price target. The analyst has near- and long-term positive outlooks for the company’s lead asset RLYB212 for the prevention of fetal and neonatal alloimmune thrombocytopenia. He believes the Phase 1b proof-of-concept results for RLYB212, expected in Q1 of 2023, have been de-risked by known data from the first generation product, RLYB211, which showed rapid platelet clearance.