Rallybio Co. (NASDAQ:RLYB) Short Interest Update

Rallybio Co. (NASDAQ:RLYB – Get Rating) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 631,000 shares, an increase of 41.3% from the March 15th total of 446,700 shares. Based on an average daily trading volume, of 123,200 shares, the short-interest ratio is currently 5.1 days. Approximately 4.8% of the company’s stock are sold short.

Several research firms have recently issued reports on RLYB. Zacks Investment Research lowered shares of Rallybio from a “hold” rating to a “sell” rating in a research note on Saturday, March 19th. JMP Securities reduced their price target on shares of Rallybio from $32.00 to $29.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 16th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $24.75.

In other Rallybio news, major shareholder Opportunities I. L.P. 5Am sold 210,000 shares of the company’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $13.05, for a total transaction of $2,740,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several institutional investors have recently made changes to their positions in RLYB. Allspring Global Investments Holdings LLC purchased a new stake in shares of Rallybio in the fourth quarter worth about $27,000. Citigroup Inc. lifted its holdings in shares of Rallybio by 241.7% in the fourth quarter. Citigroup Inc. now owns 2,805 shares of the company’s stock worth $27,000 after buying an additional 1,984 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Rallybio by 9,889.7% in the fourth quarter. Wells Fargo & Company MN now owns 3,896 shares of the company’s stock worth $37,000 after buying an additional 3,857 shares in the last quarter. Morgan Stanley purchased a new stake in shares of Rallybio in the third quarter worth about $38,000. Finally, Bank of America Corp DE lifted its holdings in shares of Rallybio by 527.2% in the fourth quarter. Bank of America Corp DE now owns 3,939 shares of the company’s stock worth $38,000 after buying an additional 3,311 shares in the last quarter. 99.32% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ RLYB traded up $0.50 during trading on Friday, hitting $9.03. 81,247 shares of the company’s stock traded hands, compared to its average volume of 191,630. Rallybio has a 12-month low of $6.74 and a 12-month high of $25.78. The business has a 50 day moving average of $9.76 and a 200-day moving average of $12.13.

Rallybio (NASDAQ:RLYB – Get Rating) last released its quarterly earnings data on Tuesday, March 15th. The company reported ($0.42) EPS for the quarter. As a group, equities research analysts anticipate that Rallybio will post -2.23 EPS for the current year.

Rallybio Company Profile (Get Rating)

Rallybio Corporation, a clinical-stage biotechnology company, engages in discovering, developing, manufacturing, and delivering therapies that enhance the lives of patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a preclinical-stage monoclonal anti-HPA-1a antibody for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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