Rallybio Co. (NASDAQ:RLYB) Sees Significant Decrease in Short Interest

Rallybio Co. (NASDAQ:RLYB) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 367,000 shares, a drop of 20.8% from the October 31st total of 463,400 shares. Based on an average daily volume of 65,500 shares, the short-interest ratio is presently 5.6 days. Currently, 1.8% of the company’s stock are short sold.

Rallybio Stock Performance

Shares of RLYB stock opened at $1.17 on Friday. Rallybio has a 52-week low of $0.95 and a 52-week high of $3.46. The stock has a market cap of $48.54 million, a price-to-earnings ratio of -0.73 and a beta of -1.67. The firm’s 50-day moving average is $1.06 and its 200-day moving average is $1.25.

Institutional Trading of Rallybio

Institutional investors and hedge funds have recently bought and sold shares of the business. Johnson & Johnson bought a new stake in Rallybio in the 2nd quarter valued at $4,873,000. FMR LLC lifted its stake in shares of Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after buying an additional 25,422 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after buying an additional 12,801 shares during the period. Geode Capital Management LLC grew its stake in Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after buying an additional 24,980 shares during the last quarter. Finally, Almitas Capital LLC bought a new position in Rallybio in the 2nd quarter valued at about $135,000. Institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RLYB. Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Rallybio in a research report on Monday, August 26th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rallybio in a research report on Friday, November 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.75.

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.