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

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

Rallybio Stock Performance

Rallybio stock traded down $0.14 during mid-day trading on Friday, reaching $16.82. 3,444 shares of the company were exchanged, compared to its average volume of 160,279. Rallybio has a twelve month low of $3.67 and a twelve month high of $17.57. The firm’s 50-day simple moving average is $16.07 and its two-hundred day simple moving average is $11.76. The firm has a market cap of $89.29 million, a PE ratio of -3.87 and a beta of -0.90.

Rallybio (NASDAQ:RLYB) last released its 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 return on equity of 40.53% and a negative net margin of 911.07%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Rallybio in a research note on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rallybio presently has an average rating of “Sell”.

Insider Activity at Rallybio

In other Rallybio news, major shareholder Adar1 Capital Management, Llc purchased 10,200 shares of Rallybio stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average price of $13.98 per share, for a total transaction of $142,596.00. Following the transaction, the insider directly owned 926,352 shares in the company, valued at $12,950,400.96. This trade represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Rallybio

A number of large investors have recently bought and sold shares of RLYB. XTX Topco Ltd boosted its holdings in shares of 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 in the last quarter. Susquehanna International Group LLP lifted its position 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 period. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 2,996 shares in the last quarter. Citadel Advisors LLC boosted its holdings 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 purchasing an additional 373,821 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Rallybio by 73.5% in the 2nd quarter. BlackRock Inc. now owns 30,332 shares of the company’s stock valued at $485,000 after purchasing an additional 12,846 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.