Short Interest in Rallybio Co. (NASDAQ:RLYB) Declines By 20.8%

Rallybio Co. (NASDAQ:RLYB) was the recipient of a large 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 currently 5.6 days. Currently, 1.8% of the shares of the stock are sold short.

Rallybio Stock Up 6.4 %

Shares of NASDAQ:RLYB traded up $0.07 during midday trading on Friday, reaching $1.17. 144,491 shares of the company were exchanged, compared to its average volume of 59,850. The stock has a fifty day simple moving average of $1.06 and a two-hundred day simple moving average of $1.25. Rallybio has a fifty-two week low of $0.95 and a fifty-two week high of $3.46. The firm has a market cap of $48.54 million, a PE ratio of -0.73 and a beta of -1.67.

Wall Street Analyst Weigh In

A number of research firms have commented on RLYB. Evercore ISI reissued an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Rallybio in a research note on Friday, November 22nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.75.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Rallybio during the 2nd quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio during the second quarter worth approximately $61,000. Acadian Asset Management LLC increased its holdings in Rallybio by 116.3% in the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares during the period. Almitas Capital LLC bought a new stake in shares of Rallybio during the 2nd quarter worth $135,000. Finally, Geode Capital Management LLC lifted 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 purchasing an additional 24,980 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

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.