Rallybio Co. (NASDAQ:RLYB) Short Interest Update

Rallybio Co. (NASDAQ:RLYB) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 2,960,000 shares, a growth of 126.0% from the March 31st total of 1,310,000 shares. Based on an average daily volume of 1,570,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 17.2% of the company’s shares are sold short.

Institutional Investors Weigh In On Rallybio

A number of hedge funds have recently added to or reduced their stakes in RLYB. Financial Security Advisor Inc. bought a new stake in Rallybio in the third quarter worth approximately $169,000. SG Americas Securities LLC bought a new stake in Rallybio in the fourth quarter worth approximately $40,000. Finally, abrdn plc bought a new stake in Rallybio in the fourth quarter worth approximately $4,128,000. 90.34% of the stock is currently owned by institutional investors.

Rallybio Stock Performance

Shares of RLYB traded up $0.05 during mid-day trading on Friday, reaching $1.70. 240,025 shares of the company were exchanged, compared to its average volume of 4,581,743. The stock has a market capitalization of $64.28 million, a PE ratio of -0.92 and a beta of -1.64. The business has a 50 day simple moving average of $1.80 and a two-hundred day simple moving average of $2.25. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.14.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). On average, analysts predict that Rallybio will post -1.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RLYB. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a research note on Thursday, April 18th. Wedbush lowered their price objective on Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, April 11th. HC Wainwright lowered their price objective on Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group downgraded Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Rallybio has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Rallybio Company Profile

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.