Rallybio Corporation (NASDAQ:RLYB) Sees Large Decrease in Short Interest

Rallybio Corporation (NASDAQ:RLYB) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 170,156 shares, a drop of 58.4% from the June 30th total of 408,746 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 48,124 shares, the days-to-cover ratio is currently 3.5 days.

Rallybio Price Performance

Shares of NASDAQ:RLYB traded down $0.28 during midday trading on Tuesday, hitting $16.03. The company had a trading volume of 18,586 shares, compared to its average volume of 172,698. Rallybio has a 12-month low of $3.20 and a 12-month high of $17.57. The company has a fifty day moving average of $15.84 and a two-hundred day moving average of $10.78. The company has a market cap of $84.96 million, a price-to-earnings ratio of -3.71 and a beta of -0.90.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.26). Rallybio had a negative return on equity of 55.79% and a negative net margin of 911.07%.The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.21 million.

Insider Buying and Selling at Rallybio

In other Rallybio news, major shareholder Adar1 Capital Management, Llc purchased 120,804 shares of the stock in a transaction dated Monday, May 4th. The shares were bought at an average price of $13.97 per share, with a total value of $1,687,631.88. Following the completion of the transaction, the insider directly owned 744,683 shares in the company, valued at approximately $10,403,221.51. This trade represents a 19.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 302,473 shares of company stock valued at $4,229,715 in the last three months. 10.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rallybio

Several hedge funds have recently bought and sold shares of RLYB. XTX Topco Ltd lifted its position in shares of Rallybio by 64.6% during the 4th quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock valued at $67,000 after buying an additional 38,205 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Rallybio by 16.9% during the fourth quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock worth $573,000 after buying an additional 120,892 shares during the period. Geode Capital Management LLC grew its stake in shares of Rallybio by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock valued at $170,000 after buying an additional 2,996 shares in the last quarter. Susquehanna International Group LLP grew its stake in shares of Rallybio by 485.9% in the third quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after buying an additional 113,031 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in shares of Rallybio by 576.1% in the 3rd quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock valued at $219,000 after buying an additional 373,821 shares during the period. Institutional investors own 90.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Rallybio in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

About Rallybio

Rallybio Therapeutics, Inc (NASDAQ: RLYB) is a clinical‐stage biotechnology company focused on developing and commercializing therapies for people living with rare genetic diseases. The company’s scientific approach leverages diverse modalities—including monoclonal antibodies, small molecules and enzyme replacement—to address high‐unmet‐need conditions in areas such as immunodeficiency, metabolic disorders and dermatologic diseases. Rallybio’s pipeline is designed to advance through registrational clinical trials with the goal of delivering first‐in‐class or best‐in‐class therapies to patients who currently have limited or no approved treatment options.

Among Rallybio’s lead programs is RBX‐100, an investigational therapy for congenital athymia, a rare pediatric immunodeficiency.