Rallybio Co. (NASDAQ:RLYB – Get Free Report) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 606,900 shares, a drop of 57.6% from the June 30th total of 1,430,000 shares. Based on an average trading volume of 243,900 shares, the short-interest ratio is presently 2.5 days. Currently, 2.6% of the company’s stock are short sold.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on RLYB shares. HC Wainwright reissued a “buy” rating and set a $9.00 target price on shares of Rallybio in a research report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Rallybio in a research report on Thursday, April 18th. Wedbush lowered their target price 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. downgraded shares of Rallybio from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $12.20.
View Our Latest Research Report on RLYB
Institutional Investors Weigh In On Rallybio
Rallybio Stock Performance
Shares of NASDAQ:RLYB traded up $0.03 during midday trading on Friday, hitting $1.36. The company’s stock had a trading volume of 66,372 shares, compared to its average volume of 294,774. The stock has a market capitalization of $56.37 million, a price-to-earnings ratio of -0.72 and a beta of -1.69. The stock’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.64. Rallybio has a fifty-two week low of $1.16 and a fifty-two week high of $6.33.
Rallybio (NASDAQ:RLYB – Get Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.03. As a group, analysts anticipate that Rallybio will post -1.42 EPS for the current 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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