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

Rallybio Corporation (NASDAQ:RLYB) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 141,643 shares, a growth of 21.5% from the January 15th total of 116,605 shares. Based on an average trading volume of 169,162 shares, the days-to-cover ratio is presently 0.8 days. Currently, 3.0% of the company’s shares are sold short. Currently, 3.0% of the company’s shares are sold short. Based on an average trading volume of 169,162 shares, the days-to-cover ratio is presently 0.8 days.

Rallybio Stock Performance

Shares of Rallybio stock traded down $0.02 during trading on Wednesday, hitting $4.31. The company’s stock had a trading volume of 17,999 shares, compared to its average volume of 25,219. Rallybio has a 52 week low of $1.76 and a 52 week high of $6.75. The company has a market capitalization of $22.76 million, a PE ratio of -1.68 and a beta of -1.05. The company has a fifty day simple moving average of $5.42 and a two-hundred day simple moving average of $4.99.

Institutional Trading of Rallybio

Hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC grew its stake in shares of Rallybio by 576.1% in 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 last quarter. Susquehanna International Group LLP boosted 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 worth $68,000 after acquiring an additional 113,031 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Rallybio by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock worth $170,000 after acquiring an additional 2,996 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Rallybio by 16.9% during the fourth quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock valued at $573,000 after acquiring an additional 120,892 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rallybio in a research note on Monday, December 29th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $40.00.

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.