Short Interest in Rallybio Co. (NASDAQ:RLYB) Increases By 126.0%

Rallybio Co. (NASDAQ:RLYB) was the recipient of a large growth in short interest in the month of 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 trading volume of 1,570,000 shares, the short-interest ratio is currently 1.9 days. Approximately 17.2% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Rallybio Stock Performance

Shares of NASDAQ RLYB traded up $0.05 during midday trading on Friday, reaching $1.70. 240,025 shares of the stock were exchanged, compared to its average volume of 4,581,743. The company has a 50 day simple moving average of $1.80 and a 200 day simple moving average of $2.25. The stock has a market capitalization of $64.28 million, a P/E ratio of -0.92 and a beta of -1.64. Rallybio has a twelve month low of $1.23 and a twelve month high of $9.14.

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

Institutional Trading of Rallybio

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in Rallybio in the 4th quarter valued at approximately $40,000. Financial Security Advisor Inc. acquired a new stake in Rallybio in the 3rd quarter valued at approximately $169,000. Finally, abrdn plc acquired a new stake in Rallybio in the 4th quarter valued at approximately $4,128,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.