Rallybio Corporation (NASDAQ:RLYB) Short Interest Down 63.2% in May

Rallybio Corporation (NASDAQ:RLYB) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 578,792 shares, a decrease of 63.2% from the April 30th total of 1,572,902 shares. Currently, 12.2% of the company’s stock are short sold. Based on an average daily volume of 1,001,411 shares, the days-to-cover ratio is currently 0.6 days.

Insider Activity

In other Rallybio news, major shareholder Adar1 Capital Management, Llc purchased 10,200 shares of Rallybio stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $13.98 per share, with a total value of $142,596.00. Following the completion of the transaction, the insider owned 926,352 shares of the company’s stock, valued at $12,950,400.96. This trade represents a 1.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought a total of 302,473 shares of company stock worth $4,229,715 over the last 90 days. 10.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Rallybio

A number of large investors have recently made changes to their positions in RLYB. XTX Topco Ltd increased its stake 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 buying an additional 38,205 shares during the period. Susquehanna International Group LLP increased its stake 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 increased its stake 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 stake in 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 purchasing an additional 373,821 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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 last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RLYB has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rallybio in a research report on Friday, May 8th. Wall Street Zen raised shares of Rallybio to a “hold” rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Rallybio Price Performance

Shares of RLYB stock traded down $0.06 during trading hours on Friday, reaching $14.46. 45,936 shares of the stock were exchanged, compared to its average volume of 630,538. The business’s fifty day moving average is $10.81 and its two-hundred day moving average is $7.72. Rallybio has a 12-month low of $2.16 and a 12-month high of $16.00. The firm has a market capitalization of $76.61 million, a P/E ratio of -3.33 and a beta of -1.10.

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