Rallybio price target lowered to $12 from $17 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Rallybio to $12 from $17 and keeps a Buy rating on the shares. The company announced a strategic update to de-prioritize its preclinical programs and push forward with the company’s lead clinical and clinic-ready programs, RLYB212 and RLYB116, the analyst tells investors in a research note. The firm cites uncertainty surrounding the timing for RLYB212 data release for the target drop.