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Rallybio Corp (RLYB) stock

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NASDAQ: RLYB Nasdaq Biotechnology

Rallybio Corp is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Rallybio Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 1 selling14 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds18 adding, 16 cuttingOf 10 active managers that changed their stake, 6 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rallybio files

Where Rallybio stands after its latest 10-Q

Rallybio has little or no product revenue yet. It passes 2 of our 2 financial-health checks.

Our model value for Rallybio is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 27, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Rallybio Corp's trailing-twelve-month revenue fell 35.6% year on year, with a free-cash-flow margin of 7139.6%.

Current signal Net margin expanding: TTM net margin reached 6177.4%, up 8279.8pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 95.7 points on a year ago.
  • Strong cash generation. 7139.6% of revenue turned into free cash flow.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 35.6% over the last 12 months.
  • Growth slowing. The growth rate is 20.5 points lower than a quarter earlier.
  • Loss-making. Operating margin is -5580.9%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 510.6% of revenue: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 8.5% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 85% and a beta of 0.7 against the S&P 500.

Latest results: FY2026 Q3

Filed October 27, 2026
Earnings per share
-$0.85 against an average estimate of -$1.28: beat by 33.3%

Rallybio's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.4%
  • 1 week-5.3%
  • 1 month-7.7%
  • This year+187.2%
  • 1 year+182.6%
  • 5 years-89.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$434,000
Operating margin
-5580.9%
Net margin
6177.4%

Growth

Revenue growth
−35.6%
Change in growth rate
−20.5 pts

Cash

Free cash flow (TTM)
$31M
FCF margin
7139.6%
Stock pay % of revenue
510.6%

Earnings

Last results
November 6, 2025

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Leadership

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Rallybio Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025
Share price$7.68$5.49
Market value$42m$31m
+ Net debt (− = net cash)−$14m−$31m
Enterprise value$28m−$480017
Multiples
Price / sales 65.7x36.0x
Price / earnings ——
Price / free cash flow ——
EV / EBITDA ——

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$5.52 −247% — −100%
Next −$3.60 +22% — 0%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −39.8% on 90 days ago. In the last 30 days, 0 analysts raised Rallybio Corp's forecast and 0 cut it.

Consensus EPS forecast Rallybio Corp, last 90 days
−$10.00 −$5.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$9.17 Current fiscal year, 60 days ago: −$9.17 Current fiscal year, 30 days ago: −$5.40 Current fiscal year, 7 days ago: −$5.40 Current fiscal year, Now: −$5.52 −$5.52 Next fiscal year, 90 days ago: −$3.60 Next fiscal year, 60 days ago: −$3.60 Next fiscal year, 30 days ago: −$3.60 Next fiscal year, 7 days ago: −$3.60 Next fiscal year, Now: −$3.60 −$3.60

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$9.17−$3.60
60 days ago −$9.17−$3.60
30 days ago −$5.40−$3.60
7 days ago −$5.40−$3.60
Now −$5.52−$3.60

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$1.28 −$0.85 +33.3%
Mar 2026 −$1.20 −$1.46 −21.7%
Dec 2025 −$1.24 −$1.52 −22.6%
Sept 2025 −$1.56 $2.88 +284.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Positioning

Short interest
0.9%
of tradable shares
Days to cover
4.76
at average volume
Short interest, 1 month
−26%
to October 15, 2026
Held by institutions
83%
of shares
Held by insiders
24.7%
of shares
Employees
14
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +182.6%

$5.58 on October 31, 2025 to $15.76

ThenNowEffect
Revenue (last 12 months) $761000 $646000 −15.1%
P/S multiple 40.8x 138.6x +239.4%
Share count 6m 6m −1.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
RLYB−31%−64%−60%−29%+187%
Industry peers (median)−57%−17%−28%−5%−27%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
RLYB58%50%42%42%73%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
RLYB−69%−79%−71%−76%−27%
S&P 500−25%−10%−8%−19%−9%

Worst fall since July 29, 2021: 99% from August 5, 2021 to April 8, 2025. Getting back needed a 9260% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.33 – $17.22
From 52-week high
−8.5%
vs 50-day average
−5.7%
vs 200-day average
+21.4%
Volatility (1 year)
85%
Beta vs S&P 500
0.70

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 10 down
typical move ±6.2%
After a week
8 up, 4 down
typical move ±10.7%
After a month
7 up, 5 down
typical move ±25.2%
Results releasedNext dayS&P 500 next day5 days21 days
November 6, 2025 0.0% −1.0% +5.0% +8.6%
August 7, 2025 +0.6% +0.7% +3.4% +12.5%
May 8, 2025 −2.7% +0.6% +6.3% +24.6%
March 13, 2025 −4.1% +0.7% +6.2% −62.1%
November 7, 2024 0.0% +1.2% +1.0% +16.0%
August 8, 2024 −5.0% +2.8% −7.5% −7.5%
May 9, 2024 −1.1% +0.7% +0.5% −17.6%
March 12, 2024 −4.6% +0.9% −13.0% +62.0%
February 6, 2024 +35.2% +1.1% +34.4% +48.8%
November 9, 2023 −4.3% +0.8% −33.8% −8.3%
August 8, 2023 −4.4% −1.1% +8.9% −3.6%
May 9, 2023 −12.5% 0.0% −8.3% +30.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Rallybio Corp
$400K $600K $800K $1M FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 Revenue (TTM), FY24 Q4: $636K Revenue (TTM), FY25 Q1: $848K Revenue (TTM), FY25 Q2: $761K Revenue (TTM), FY25 Q3: $674K Revenue (TTM), FY25 Q4: $858K Revenue (TTM), FY26 Q1: $858K Revenue (TTM), FY26 Q2: $646K Revenue (TTM), FY26 Q3: $434K $434K

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q4 $636K
FY25 Q1 $848K
FY25 Q2 $761K
FY25 Q3 $674K
FY25 Q4 $858K
FY26 Q1 $858K
FY26 Q2 $646K
FY26 Q3 $434K
Revenue growth, TTM YoY Rallybio Corp
-40% -20% 0% 20% 40% FY25 Q4 FY26 Q1 FY26 Q2 FY26 Q3 Revenue growth, TTM YoY, FY25 Q4: 34.9% Revenue growth, TTM YoY, FY26 Q1: 1.2% Revenue growth, TTM YoY, FY26 Q2: -15.1% Revenue growth, TTM YoY, FY26 Q3: -35.6% -35.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY25 Q4 34.9%
FY26 Q1 1.2%
FY26 Q2 -15.1%
FY26 Q3 -35.6%
Operating margin (TTM) Rallybio Corp
-10000% -5000% 0% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 Operating margin (TTM), FY24 Q4: -9511.9% Operating margin (TTM), FY25 Q1: -5940.9% Operating margin (TTM), FY25 Q2: -5703.2% Operating margin (TTM), FY25 Q3: -5676.6% Operating margin (TTM), FY25 Q4: -3853.6% Operating margin (TTM), FY26 Q1: -3744.4% Operating margin (TTM), FY26 Q2: -4291.5% Operating margin (TTM), FY26 Q3: -5580.9% -5580.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q4 -9511.9%
FY25 Q1 -5940.9%
FY25 Q2 -5703.2%
FY25 Q3 -5676.6%
FY25 Q4 -3853.6%
FY26 Q1 -3744.4%
FY26 Q2 -4291.5%
FY26 Q3 -5580.9%
FCF margin (TTM) Rallybio Corp
-10000% -5000% 0% 5000% 10000% FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q3 FCF margin (TTM), FY24 Q4: -7748.7% FCF margin (TTM), FY25 Q1: -5192.2% FCF margin (TTM), FY25 Q2: -5517.9% FCF margin (TTM), FY25 Q3: -5192.3% FCF margin (TTM), FY25 Q4: -3474.7% FCF margin (TTM), FY26 Q1: -3215.2% FCF margin (TTM), FY26 Q2: 4135.0% FCF margin (TTM), FY26 Q3: 7139.6% 7139.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q4 -7748.7%
FY25 Q1 -5192.2%
FY25 Q2 -5517.9%
FY25 Q3 -5192.3%
FY25 Q4 -3474.7%
FY26 Q1 -3215.2%
FY26 Q2 4135.0%
FY26 Q3 7139.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 1 1 0
EBITDA −60 −33 −24
Operating income −60 −33 −24
Net income −58 −9 27
Diluted EPS −$10.61 −$1.59 —
Growth (year on year)
Revenue — +34.9% −35.6%
Margins
EBITDA margin <−999% <−999% <−999%
Operating margin <−999% <−999% <−999%
Net margin <−999% <−999% >999%
Free-cash-flow margin <−999% <−999% >999%
Cash flow
Cash from operations −49 −30 31
Capital spending 0 0 0
Free cash flow −49 −30 31
Stock-based pay 8 5 2
Free cash flow after stock pay −57 −35 29
Balance sheet
Cash 14 31 91
Total debt 0 0 0
Net debt (negative = net cash) −14 −31 −91
Diluted shares 5m 6m —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · September 30, 2026
What it owns · $96m
Short-term assets $95mLonger-term assets $1m
What it owes, and who funded it · $96m
Short-term liabilities $3mLonger-term liabilities $0mShareholders' equity $92m
  • Short-term assets cover short-term liabilities $95m of assets due within a year against $3m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $95m short-term assets against $0 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Rallybio Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
1812.9%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated RLYB CRDF CRVO MNOV CLNN STTK Median
Revenue, last 12 months $434000 $508000 $331295 $920481 $197000 $1m $55m
Revenue growth, last 12 months −35.6% −7.0% −95.7% 875.7% −31.1% −66.6% 12.2%
Revenue growth, 3-year average — 7.2% −52.7% — −36.9% 5.2% 13.7%
Revenue growth, latest quarter −100.0% −14.0% −100.0% 240.6% 233.3% −66.6% 10.2%
Gross margin — 100.0% 100.0% 100.0% 70.1% — 82.9%
Operating margin <−999% <−999% <−999% <−999% <−999% <−999% −191.1%
Operating margin, 3-year average — <−999% <−999% −905.8% <−999% <−999% −363.5%
Net margin >999% <−999% <−999% <−999% <−999% <−999% −163.5%
Cash from operations / revenue >999% <−999% <−999% −989.7% <−999% <−999% −162.3%
Free-cash-flow margin >999% <−999% — −991.2% <−999% <−999% −156.7%
Free-cash-flow margin, 3-year average — <−999% — <−999% <−999% <−999% −310.0%
Stock pay / revenue 510.6% >999% 393.0% 100.3% >999% 853.2% 20.7%
Change in share count 8.5% 15.8% 8.4% 0.2% 35.4% 15.3% 8.3%

Median of all 185 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Collaboration and License Revenue $858,000 ▲ 34.9%
Licenses $800,000 ▲ 33.3%

These categories overlap or exclude eliminations, so shares aren't shown.

From Rallybio Corp's 10-K filed March 16, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$68.1M
Institutions reporting
37
Shares held vs prior quarter
▼ 8.9%
Positions opened / closed
9 / 10

Top buyers and sellers, Q2 2026: 18 institutions bought and 16 sold ; the biggest buyer was ADAR1 Capital Management, LLC (+906K shares) and the biggest seller Cormorant Asset Management, LP (−400K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
ADAR1 Capital Management, LLC $14.8M 926K 21.8% ▲ 4411.1%
FMR LLC $12.7M 795K 18.7% ▲ 0.2%
Viking Global Investors LP $8.4M 524K 12.3% 0.0%
Tpg Gp A, LLC $6.1M 379K 8.9% 0.0%
Nantahala Capital Management, LLC $6M 377K 8.9% ▲ 25.3%
Pivotal Bioventure Partners Investment Advisor LLC $4.8M 301K 7.1% 0.0%
Renaissance Technologies LLC $3.2M 200K 4.7% ▲ 27.7%
Vanguard Capital Management LLC $2.8M 172K 4.1% ▲ 54.0%
Almitas Capital LLC $1.9M 121K 2.8% ▼ 36.9%
Rangeley Capital, LLC $1.7M 105K 2.5% ▲ 248.0%
Citadel Advisors LLC $1.2M 72K 1.7% ▲ 262.0%
Mariner, LLC $809,056 51K 1.2% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Rallybio Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $4.2M 14 trades by 2 insiders, last 12 months Insider sales History → $13,600 2 trades by 1 insider · 0% under pre-set plans
Net ▲ $4.2M net buying
Insider Date Trade Shares Price Value
Lieber Jonathan I Chief Financial Officer October 27, 2026 Sell 599 $16.04 $9,608
Adar1 Capital Management, Llc 10% owner May 19, 2026 Buy 200 $13.80 $2,760
Adar1 Capital Management, Llc 10% owner May 19, 2026 Buy 10,000 $13.98 $139,800
Adar1 Capital Management, Llc 10% owner May 18, 2026 Buy 6,009 $13.98 $84,006
Schneeberger Daniel 10% owner May 15, 2026 Buy 100 $13.80 $1,380
Schneeberger Daniel 10% owner May 15, 2026 Buy 200 $13.95 $2,790
Schneeberger Daniel 10% owner May 13, 2026 Buy 75,178 $14.00 $1.1M
Schneeberger Daniel 10% owner May 13, 2026 Buy 4,081 $13.80 $56,318
Adar1 Capital Management, Llc 10% owner May 12, 2026 Buy 800 $13.83 $11,064
Adar1 Capital Management, Llc 10% owner May 11, 2026 Buy 19,900 $14.00 $278,600
Adar1 Capital Management, Llc 10% owner May 11, 2026 Buy 5,100 $14.00 $71,400
Adar1 Capital Management, Llc 10% owner May 11, 2026 Buy 25,000 $14.00 $350,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 5, 2026 estimated from the company's past filing pattern, not announced

  • November 6, 2025
  • August 7, 2025
  • May 8, 2025
  • March 13, 2025
  • November 7, 2024
  • August 8, 2024

Recent SEC filings

Data status

When each part of this page on Rallybio Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Rallybio Corp in brief

What does Rallybio Corp do?
Rallybio Corp is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Rallybio Corp's stock ticker?
Rallybio Corp trades under the ticker RLYB on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rallybio Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rallybio Corp reported revenue of $434,000, 35.6% lower than a year earlier, according to its SEC filings.
What is Rallybio Corp's free cash flow?
Rallybio Corp's free-cash-flow margin is 7139.6% of revenue over the trailing twelve months.
Who are Rallybio Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are ADAR1 Capital Management, LLC, FMR LLC and Viking Global Investors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Rallybio Corp's market cap?
On December 31, 2025, Rallybio Corp's market capitalisation was about $30.9M and net debt of -$31.4M. Market figures come from third-party market data and may be delayed.
Who are Rallybio Corp's competitors?
In our Biotechnology peer group, the companies closest to Rallybio Corp are Cardiff Oncology, Inc., Cervomed Inc., Medicinova Inc, Clene Inc. and Shattuck Labs, Inc. The side-by-side comparison below sets their revenue, margins and growth against Rallybio Corp's.
Are insiders buying or selling Rallybio Corp stock?
Over the last 12 months, Rallybio Corp's directors and officers reported 14 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.