Short Interest in Rallybio Corporation (NASDAQ:RLYB) Decreases By 63.2%

Rallybio Corporation (NASDAQ:RLYB) saw a significant drop in short interest in 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 presently 0.6 days.

Rallybio Price Performance

NASDAQ RLYB opened at $14.46 on Friday. The firm’s fifty day moving average price is $10.81 and its 200 day moving average price is $7.72. Rallybio has a 12 month low of $2.16 and a 12 month high of $16.00. The company has a market capitalization of $76.64 million, a price-to-earnings ratio of -3.33 and a beta of -1.10.

Rallybio (NASDAQ:RLYB) last posted its earnings results 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 firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.21 million. Rallybio had a negative net margin of 911.07% and a negative return on equity of 55.79%.

Insiders Place Their Bets

In related news, major shareholder Adar1 Capital Management, Llc acquired 120,804 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $13.97 per share, with a total value of $1,687,631.88. Following the transaction, the insider owned 744,683 shares of the company’s stock, valued at approximately $10,403,221.51. This trade represents a 19.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have bought a total of 302,473 shares of company stock worth $4,229,715 over the last ninety days. Company insiders own 10.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Citadel Advisors LLC increased its position in Rallybio by 576.1% in the 3rd 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. Renaissance Technologies LLC increased its holdings in shares of 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 purchasing an additional 120,892 shares during the period. Susquehanna International Group LLP raised 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 worth $68,000 after purchasing an additional 113,031 shares during the last quarter. XTX Topco Ltd lifted 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 worth $67,000 after purchasing an additional 38,205 shares during the period. Finally, Geode Capital Management LLC grew its position in Rallybio by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock valued at $170,000 after buying an additional 2,996 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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