Rallybio Co. (NASDAQ:RLYB) Short Interest Update

Rallybio Co. (NASDAQ:RLYB) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 367,000 shares, a drop of 20.8% from the October 31st total of 463,400 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average trading volume of 65,500 shares, the short-interest ratio is presently 5.6 days.

Rallybio Price Performance

Rallybio stock traded up $0.07 during midday trading on Friday, hitting $1.17. 144,491 shares of the stock were exchanged, compared to its average volume of 59,850. The company has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.25. The firm has a market cap of $48.54 million, a P/E ratio of -0.73 and a beta of -1.67. Rallybio has a 1 year low of $0.95 and a 1 year high of $3.46.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Evercore ISI reissued an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Rallybio in a research report on Friday, November 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.75.

Institutional Investors Weigh In On Rallybio

A number of hedge funds have recently bought and sold shares of RLYB. Johnson & Johnson bought a new stake in shares of Rallybio during the 2nd quarter valued at about $4,873,000. Almitas Capital LLC bought a new stake in shares of Rallybio in the 2nd quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rallybio during the 2nd quarter valued at about $61,000. Acadian Asset Management LLC boosted its holdings in Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after buying an additional 36,401 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Rallybio by 1.1% in the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after acquiring an additional 25,422 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Company Profile

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.