Rallybio Corporation (NASDAQ:RLYB) Sees Significant Decline in Short Interest

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

Insider Transactions at Rallybio

In other Rallybio news, major shareholder Adar1 Capital Management, Llc acquired 120,804 shares of Rallybio stock in a transaction on 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 purchase, the insider owned 744,683 shares in the company, valued at $10,403,221.51. This trade represents a 19.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 302,473 shares of company stock valued at $4,229,715. Insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Rallybio by 16.9% in the 4th 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 period. Citadel Advisors LLC lifted its stake in shares of Rallybio by 576.1% during 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 lifted its stake in shares of Rallybio by 1.2% during 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. Susquehanna International Group LLP lifted its stake 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 during the period. Finally, XTX Topco Ltd boosted its holdings in Rallybio by 64.6% in the fourth quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock valued at $67,000 after acquiring an additional 38,205 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rallybio Stock Performance

Shares of RLYB stock opened at $16.31 on Monday. Rallybio has a 1 year low of $3.20 and a 1 year high of $17.57. The firm’s 50 day moving average is $15.79 and its 200-day moving average is $10.70. The firm has a market capitalization of $86.44 million, a price-to-earnings ratio of -3.76 and a beta of -0.90.

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

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.