Rallybio Corporation (NASDAQ:RLYB) Short Interest Update

Rallybio Corporation (NASDAQ:RLYB) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 797,895 shares, a growth of 1,692.3% from the February 26th total of 44,517 shares. Approximately 16.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 499,683 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 499,683 shares, the days-to-cover ratio is presently 1.6 days. Approximately 16.8% of the shares of the stock are sold short.

Rallybio Stock Down 4.8%

RLYB stock opened at $8.67 on Wednesday. Rallybio has a 52 week low of $1.76 and a 52 week high of $11.49. The firm has a 50-day simple moving average of $6.79 and a 200-day simple moving average of $5.70. The stock has a market capitalization of $45.86 million, a P/E ratio of -3.39 and a beta of -1.13.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.01. Rallybio had a negative net margin of 1,046.39% and a negative return on equity of 56.93%. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.10 million. On average, analysts expect that Rallybio will post -1.34 earnings per share for the current year.

Institutional Trading of Rallybio

Large investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in Rallybio by 64.6% in the 4th quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock valued at $67,000 after purchasing an additional 38,205 shares in the last quarter. Renaissance Technologies LLC grew 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 worth $573,000 after buying an additional 120,892 shares in the last quarter. Geode Capital Management LLC grew 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. Susquehanna International Group LLP raised its position in shares of 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 buying an additional 113,031 shares during the last quarter. Finally, Citadel Advisors LLC lifted 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 worth $219,000 after buying an additional 373,821 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rallybio in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rallybio has an average rating of “Reduce”.

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.