Rallybio Corporation (NASDAQ:RLYB) Short Interest Down 62.7% in July

Rallybio Corporation (NASDAQ:RLYB) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 63,485 shares, a decrease of 62.7% from the July 15th total of 170,156 shares. Based on an average daily trading volume, of 30,844 shares, the short-interest ratio is presently 2.1 days. Approximately 1.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, major shareholder Adar1 Capital Management, Llc purchased 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $13.98 per share, for a total transaction of $142,596.00. Following the completion of the purchase, the insider directly owned 926,352 shares of the company’s stock, valued at $12,950,400.96. The trade was a 1.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.30% of the stock is currently owned by company insiders.

Institutional Trading of Rallybio

Institutional investors and hedge funds have recently made changes to their positions in the company. ADAR1 Capital Management LLC boosted its position in shares of Rallybio by 4,411.1% in the 2nd quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company’s stock valued at $14,822,000 after purchasing an additional 905,817 shares during the period. Renaissance Technologies LLC lifted its stake in Rallybio by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock valued at $573,000 after buying an additional 120,892 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of 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 acquiring an additional 373,821 shares during the period. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 2,996 shares during the period. Finally, Susquehanna International Group LLP grew its position 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 worth $68,000 after acquiring an additional 113,031 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RLYB has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Rallybio from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Rallybio in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Rallybio Stock Up 0.2%

Rallybio stock traded up $0.03 during mid-day trading on Friday, hitting $16.99. The company had a trading volume of 12,921 shares, compared to its average volume of 29,170. Rallybio has a 1 year low of $3.67 and a 1 year high of $17.57. The business has a fifty day moving average of $16.09 and a 200 day moving average of $11.80. The stock has a market cap of $90.23 million, a price-to-earnings ratio of -3.91 and a beta of -0.90.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, August 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.28) by $0.19. Rallybio had a negative net margin of 911.07% and a negative return on equity of 40.53%.

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.