Rallybio Corporation (NASDAQ:RLYB) Sees Large Drop in Short Interest

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

Insiders Place Their Bets

In other Rallybio news, major shareholder Adar1 Capital Management, Llc acquired 10,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $13.98 per share, with a total value of $142,596.00. Following the completion of the acquisition, the insider directly owned 926,352 shares of the company’s stock, valued at approximately $12,950,400.96. The trade was a 1.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 10.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rallybio

Several hedge funds have recently bought and sold shares of RLYB. XTX Topco Ltd raised its holdings in 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 last quarter. Susquehanna International Group LLP grew its holdings in Rallybio by 485.9% in the third quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after purchasing an additional 113,031 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 purchasing an additional 2,996 shares during the last quarter. Citadel Advisors LLC increased its position 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 buying an additional 373,821 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Rallybio by 73.5% in the second quarter. BlackRock Inc. now owns 30,332 shares of the company’s stock valued at $485,000 after buying an additional 12,846 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Stock Performance

RLYB traded down $0.14 on Friday, hitting $16.82. 3,444 shares of the company were exchanged, compared to its average volume of 160,279. Rallybio has a fifty-two week low of $3.67 and a fifty-two week high of $17.57. The firm has a market capitalization of $89.29 million, a P/E ratio of -3.87 and a beta of -0.90. The business’s fifty day moving average is $16.07 and its 200 day moving average is $11.76.

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rallybio in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Rallybio Company Profile

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.