Rallybio downgraded to Hold from Buy at JonesResearch

JonesResearch analyst Catherine Novack downgraded Rallybio (RLYB) to Hold from Buy without a price target after the company announced discontinuation of lead asset RLYB212 in fetal and neonatal alloimmune thrombocytopenia prevention. Rallybio still has promising assets in the pipeline, but Jones needs to see Phase 1 data from early-stage assets before again recommending the shares, the analyst tells investors in a research note.