Short Interest in Rallybio Co. (NASDAQ:RLYB) Drops By 33.8%

Rallybio Co. (NASDAQ:RLYBGet Free Report) saw a significant drop in short interest in April. As of April 30th, there was short interest totalling 1,960,000 shares, a drop of 33.8% from the April 15th total of 2,960,000 shares. Based on an average trading volume of 1,570,000 shares, the short-interest ratio is currently 1.2 days. Currently, 9.7% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group downgraded shares of Rallybio from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a report on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 price objective on shares of Rallybio in a report on Friday. Finally, Wedbush cut their target price on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.20.

Check Out Our Latest Report on RLYB

Institutional Trading of Rallybio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLYB. abrdn plc bought a new position in shares of Rallybio during the fourth quarter valued at approximately $4,128,000. Vanguard Group Inc. increased its stake in Rallybio by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares during the period. Financial Security Advisor Inc. bought a new stake in shares of Rallybio during the third quarter worth $169,000. Acadian Asset Management LLC purchased a new stake in shares of Rallybio during the first quarter valued at $57,000. Finally, SG Americas Securities LLC bought a new position in shares of Rallybio in the fourth quarter worth about $40,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Trading Down 3.7 %

Shares of Rallybio stock opened at $1.83 on Friday. The stock has a 50 day moving average price of $1.78 and a 200-day moving average price of $2.14. Rallybio has a one year low of $1.23 and a one year high of $9.14.

Rallybio (NASDAQ:RLYBGet Free Report) last posted its quarterly earnings data 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). Sell-side analysts expect that Rallybio will post -1.6 earnings per share for the current fiscal year.

About Rallybio

(Get Free Report)

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.

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