Rallybio Co. (NASDAQ:RLYB – Get Free Report) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totalling 606,900 shares, a decline of 57.6% from the June 30th total of 1,430,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 243,900 shares, the days-to-cover ratio is currently 2.5 days.
Analyst Ratings Changes
Several equities research analysts have commented on RLYB shares. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a research report on Thursday, April 18th. HC Wainwright reissued a “buy” rating and set a $9.00 price target on shares of Rallybio in a research report on Friday, May 10th. Wedbush cut their price target on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut shares of Rallybio from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Rallybio currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.20.
View Our Latest Report on RLYB
Institutional Inflows and Outflows
Rallybio Stock Up 2.3 %
Shares of RLYB stock traded up $0.03 on Friday, reaching $1.36. The stock had a trading volume of 66,372 shares, compared to its average volume of 294,774. The firm’s 50-day moving average is $1.45 and its two-hundred day moving average is $1.64. The firm has a market capitalization of $56.37 million, a price-to-earnings ratio of -0.72 and a beta of -1.69. Rallybio has a 12 month low of $1.16 and a 12 month high of $6.33.
Rallybio (NASDAQ:RLYB – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.03. On average, sell-side analysts forecast that Rallybio will post -1.42 earnings per share for the current fiscal year.
About Rallybio
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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