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

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

Rallybio Price Performance

RLYB traded down $0.06 during trading on Wednesday, hitting $16.10. The stock had a trading volume of 12,130 shares, compared to its average volume of 171,636. The company has a 50 day moving average price of $15.88 and a 200-day moving average price of $10.85. Rallybio has a one year low of $3.20 and a one year high of $17.57. The firm has a market cap of $85.32 million, a price-to-earnings ratio of -3.71 and a beta of -0.90.

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

Insider Activity

In other news, major shareholder Adar1 Capital Management, Llc acquired 120,804 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average cost of $13.97 per share, for a total transaction of $1,687,631.88. Following the completion of the acquisition, the insider owned 744,683 shares in the company, valued at $10,403,221.51. This represents a 19.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 302,473 shares of company stock worth $4,229,715 in the last ninety days. 10.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RLYB. Citadel Advisors LLC increased its holdings in Rallybio by 576.1% in the third quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock valued at $219,000 after purchasing an additional 373,821 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Rallybio by 16.9% during the 4th quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock worth $573,000 after buying an additional 120,892 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rallybio by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock worth $170,000 after purchasing an additional 2,996 shares during the period. Susquehanna International Group LLP increased its holdings in shares of Rallybio by 485.9% during the third quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after acquiring an additional 113,031 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Rallybio by 64.6% during the fourth 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 during the last quarter. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

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.com, Rallybio 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.