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

Key Points

• Rallybio’s short interest fell 58.4% to 170,156 shares as of July 15, representing 3.6% of shares outstanding and a 3.5-day days-to-cover ratio.
• Insiders have been buying shares, including a 120,804-share purchase by Adar1 Capital Management, while insiders own 10.3% of the company. Institutional investors and hedge funds collectively own 90.34% of Rallybio.
• Rallybio shares opened at $16.31, near their 52-week high, but the company missed its latest EPS estimate and remains unprofitable. The stock carries a consensus “Sell” rating.

Rallybio Corporation (NASDAQ:RLYB - Get Free Report) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 170,156 shares, a decrease of 58.4% from the June 30th total of 408,746 shares. Based on an average daily trading volume, of 48,124 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.6% of the shares of the stock are sold short.

Insider Activity at Rallybio

In other Rallybio news, major shareholder Adar1 Capital Management, Llc acquired 120,804 shares of Rallybio stock in a transaction dated Monday, May 4th. The stock was bought at an average cost of $13.97 per share, with a total value of $1,687,631.88. Following the acquisition, the insider owned 744,683 shares of the company's stock, valued at approximately $10,403,221.51. The trade was a 19.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have bought 302,473 shares of company stock worth $4,229,715. 10.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rallybio

A number of hedge funds have recently made changes to their positions in RLYB. XTX Topco Ltd boosted its position in 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 buying an additional 38,205 shares in the last quarter. Susquehanna International Group LLP increased its holdings 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 buying an additional 113,031 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Rallybio by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company's stock worth $170,000 after buying an additional 2,996 shares in the last quarter. Citadel Advisors LLC raised its stake 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 acquiring an additional 373,821 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake 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 acquiring an additional 120,892 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Rallybio Price Performance

Shares of RLYB stock opened at $16.31 on Monday. The stock's fifty day simple moving average is $15.79 and its 200 day simple moving average is $10.70. Rallybio has a one year low of $3.20 and a one year high of $17.57. The firm has a market cap of $86.44 million, a price-to-earnings ratio of -3.76 and a beta of -0.90.

Rallybio (NASDAQ:RLYB - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($1.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.26). The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.21 million. Rallybio had a negative return on equity of 55.79% and a negative net margin of 911.07%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Rallybio in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus 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.

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