Rallybio Corporation (NASDAQ:RLYB) Short Interest Update

Rallybio Corporation (NASDAQ:RLYB) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 578,792 shares, a drop of 63.2% from the April 30th total of 1,572,902 shares. Approximately 12.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,001,411 shares, the days-to-cover ratio is currently 0.6 days.

Insider Transactions at Rallybio

In other Rallybio news, major shareholder Adar1 Capital Management, Llc acquired 120,804 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average price of $13.97 per share, for a total transaction of $1,687,631.88. Following the acquisition, the insider directly 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 filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 302,473 shares of company stock valued at $4,229,715. 10.30% of the stock is owned by company insiders.

Institutional Trading of Rallybio

Several large investors have recently modified their holdings of the stock. XTX Topco Ltd grew 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 worth $67,000 after buying an additional 38,205 shares during the period. Renaissance Technologies LLC grew its position 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 during the period. Geode Capital Management LLC grew its position in shares of Rallybio by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock worth $170,000 after buying an additional 2,996 shares during the period. Susquehanna International Group LLP grew its position in shares of Rallybio by 485.9% during the 3rd quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock worth $68,000 after buying an additional 113,031 shares during the period. Finally, Citadel Advisors LLC grew its position in shares of Rallybio by 576.1% during the 3rd quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock worth $219,000 after buying an additional 373,821 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RLYB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rallybio in a report on Friday, May 8th. Wall Street Zen raised shares of Rallybio to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rallybio has an average rating of “Sell”.

Rallybio Trading Up 20.1%

NASDAQ:RLYB traded up $2.91 on Monday, reaching $17.37. 228,494 shares of the stock traded hands, compared to its average volume of 217,622. The firm has a market capitalization of $92.03 million, a price-to-earnings ratio of -4.00 and a beta of -0.89. The company’s 50 day moving average is $10.81 and its 200-day moving average is $7.74. Rallybio has a 1-year low of $2.16 and a 1-year high of $17.57.

Rallybio (NASDAQ:RLYB) last released 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). The firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.21 million. Rallybio had a negative net margin of 911.07% and a negative return on equity of 55.79%.

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.