RLYB Rallybio Corporation - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026
$17.08
· of 52w range
· above low
· to high
$3.6752w low
$17.5752w high
Market Cap (MRQ)
$91M
P/E (TTM)
3.5
EPS (TTM)
$4.91
Revenue (TTM)
$646.0K
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52W Range
$4–$18
Analyst Rating
HOLD
Price Target
·
P/E
3.5
ROE
64.9%
Net Profit Margin
7051.2%
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RLYB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$17.08
Market Cap (MRQ)
$91M
P/E (TTM)
3.5
EPS (TTM)
$4.91
Revenue (TTM)
$646.0K
ROE (TTM)
64.9%
52W Range
$4–$18
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Feb. 6, 2026 | 1-for-8 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$858.0K2024-12-31 → 2025-12-31
EPS$-1.592021-12-31 → 2025-12-31
Free Cash Flow·2021-12-31 → 2024-12-31
Net margin7051.2%2024-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | RLYB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 3.55Y avg ≈-2.0 | ≈-2.0 | · | · | |
| P/S (TTM) | 140.3 | · | 70.6 | Overvalued | |
| P/B (MRQ) | 1.05Y avg ≈1.0 | ≈1.0 | 1.7 | Undervalued | |
| Price / Cash Flow | -3.05Y avg ≈-2.7 | ≈-2.7 | · | · | |
| Price / Tangible Book | 1.65Y avg ≈1.0 | ≈1.0 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | RLYB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -4291.5% | · | -2375.5% | Weak | |
| EBITDA Margin | -3853.6% | · | -2375.5% | Weak | |
| Pretax Margin (TTM) | 7120.9% | · | -2927.3% | Weak | |
| Net Profit Margin (TTM) | 7051.2% | · | -1689.0% | Weak | |
| ROA (TTM) | 61.1%5Y avg ≈-38.6% | ≈-38.6% | -31.6% | Top tier | |
| ROE (TTM) | 64.9%5Y avg ≈-47.9% | ≈-47.9% | -61.2% | Top tier | |
| ROIC | -57.0%5Y avg ≈-59.1% | ≈-59.1% | -54.8% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | RLYB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 27.35Y avg ≈16.4 | ≈16.4 | 4.1 | Strong liquidity | |
| Quick Ratio | 13.05Y avg ≈15.6 | ≈15.6 | 3.3 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | RLYB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 34.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | RLYB | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.0 | In line | |
| Revenue / Employee | ≈$122.6K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
12.9%
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| March 31, 2026 | May 12, 2026 | $-1.46 | $-1.22 | -20.1% |
| Dec. 31, 2025 | $-1.03 | $-1.20 | 13.9% | |
| Sept. 30, 2025 | $-1.12 | $-1.75 | 36.0% | |
| June 30, 2025 | $-1.76 | $-2.00 | 12.0% | |
| March 31, 2025 | $-1.68 | $-2.12 | 20.8% | |
| Dec. 31, 2024 | $-2.00 | $-2.34 | 14.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue | $858.0K | $636.0K | |
| R&D Expense | $20M | $42M | |
| SG&A Expense | $14M | $20M | |
| Operating Expenses | $34M | $61M | |
| Operating Income | $-33M | $-60M | |
| Other Non-op | $23M | $744.0K | |
| Pretax Income | $-9M | $-56M | |
| Income Tax | $0 | $0 | |
| Net Income | $-9M | $-58M | |
| EPS (Basic) | $-1.59 | $-10.61 | |
| EPS (Diluted) | $-1.59 | $-10.61 | |
| Shares (Basic) | 5,629,370 | 5,443,332 | |
| Shares (Diluted) | 5,629,370 | 5,443,332 | |
| EBITDA | $-33M | $-60M |
Balance Sheet
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Cash & Equivalents | $31M | $14M | |
| Short-term Investments | $23M | $52M | |
| Prepaid Expense | $7M | $2M | |
| Other Current Assets | $3M | $995.0K | |
| Current Assets | $61M | $68M | |
| PP&E (Net) | $23.0K | $115.0K | |
| PP&E (Gross) | $503.0K | $769.0K | |
| Accum. Depreciation | $480.0K | $654.0K | |
| Other Non-current Assets | $810.0K | $0 | |
| Total Assets | $62M | $68M | |
| Accounts Payable | $126.0K | $278.0K | |
| Accrued Liabilities | $4M | $5M | |
| Current Liabilities | $4M | $6M | |
| Capital Leases | $82.0K | $0 | |
| Total Liabilities | $4M | $6M | |
| Common Stock | $4.0K | $4.0K | |
| Paid-in Capital | $360M | $355M | |
| Retained Earnings | $-302M | $-293M | |
| AOCI | $18.0K | $68.0K | |
| Stockholders' Equity | $58M | $62M | |
| Liabilities + Equity | $62M | $68M | |
| Shares Outstanding | 5,283,321 | 5,188,743 |
Cash Flow
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| D&A | $92.0K | $131.0K | |
| Stock-based Comp | $5M | $8M | |
| Operating Cash Flow | $-30M | $-49M | |
| CapEx | · | $0 | |
| Investing Cash Flow | $47M | $33M | |
| Stock Issued | $0 | $5M | |
| Net Stock Activity | $0 | $5M | |
| Financing Cash Flow | $16.0K | $5M | |
| Net Change in Cash | $17M | $-11M | |
| Free Cash Flow | · | $-49M |
Profitability
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Operating Margin | -3853.6% | -10082.7% | |
| Net Margin | -1046.4% | -9629.2% | |
| Pretax Margin | -1046.4% | -9256.0% | |
| EBITDA Margin | -3853.6% | -10082.7% | |
| ROA | -13.8% | -62.9% | |
| ROE | -17.3% | -87.2% | |
| ROIC | -57.0% | -98.1% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Current Ratio | 14.5 | 10.9 | |
| Quick Ratio | 13.0 | 10.5 |
Efficiency
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 |
Per Share
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Book Value / Share | $10.97 | $1.49 | |
| Revenue / Share | $0.15 | $0.01 | |
| Cash Flow / Share | $-5.30 | $-1.13 | |
| Cash / Share | $5.94 | $0.33 | |
| EPS (TTM) | $-1.59 | $-10.61 |
Growth Rates
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue YoY | 34.9% | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 |
|---|---|---|---|
| Revenue TTM | $858.0K | $636.0K | |
| Net Income TTM | $-9M | $-58M | |
| Market Cap | $4M | $40M | |
| P/E | -0.4 | -0.1 | |
| P/S | 4.2 | 62.7 | |
| P/B | 0.1 | 0.6 | |
| P / Tangible Book | 0.1 | 0.6 | |
| P / Cash Flow | -0.1 | -0.8 | |
| P / FCF | · | -0.8 | |
| Earnings Yield | -231.8% | -1105.2% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $212.0K | $222.0K | $212.0K | $212.0K | $212.0K | $38.0K | $299.0K | $299.0K | $0 | · | $0 | $0 | |
| R&D Expense | $758.0K | $3M | $4M | $4M | $6M | $6M | $7M | $8M | $13M | $13M | $16M | $13M | $13M | |
| SG&A Expense | $5M | $6M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $7M | $5M | $6M | $7M | |
| Operating Expenses | $6M | $9M | $7M | $7M | $10M | $10M | $12M | $12M | $17M | $20M | $21M | $19M | $20M | |
| Operating Income | $-6M | $-9M | $-6M | $-7M | $-10M | $-10M | $-12M | $-12M | $-17M | $-20M | $-21M | $-19M | $-20M | |
| Other Non-op | $424.0K | $254.0K | $0 | $22M | $118.0K | $174.0K | $183.0K | $251.0K | $143.0K | $167.0K | $35.0K | $92.0K | $62.0K | |
| Pretax Income | $45M | $-8M | $-7M | $16M | $-9M | $-9M | · | $-11M | $-16M | $-18M | $-20M | $-18M | $-18M | |
| Income Tax | $1M | · | · | · | $0 | · | · | · | · | · | · | · | · | |
| Net Income | $44M | $-8M | $-6M | $16M | $-10M | $-9M | $-11M | $-11M | $-16M | $-19M | $-20M | $-18M | $-19M | |
| EPS (Basic) | $7.66 | $-1.46 | $-1.52 | $0.36 | $-1.73 | $-1.69 | $-9.51 | $-0.26 | $-0.37 | $-0.47 | $-0.50 | $-0.45 | $-0.46 | |
| EPS (Diluted) | $7.53 | $-1.46 | $-1.52 | $0.36 | · | $-1.69 | $-9.51 | $-0.26 | $-0.37 | $-0.47 | $-0.50 | $-0.45 | $-0.46 | |
| Shares (Basic) | 5,699,111 | 5,688,584 | · | 45,058,591 | 5,605,116 | 5,597,528 | · | 44,593,221 | 44,128,059 | 40,773,615 | · | 40,531,497 | 40,363,902 | |
| Shares (Diluted) | 5,797,913 | 5,688,584 | · | 45,058,591 | · | 5,597,528 | · | 44,593,221 | 44,128,059 | 40,773,615 | · | 40,531,497 | 40,363,902 | |
| EBITDA | $-6M | $-9M | · | $-7M | $-10M | $-10M | · | $-12M | $-17M | $-20M | · | $-19M | $-20M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $93M | $41M | $31M | $32M | $9M | $15M | $14M | $25M | $17M | $19M | $24M | $19M | $33M | |
| Short-term Investments | $0 | $5M | $23M | $27M | $36M | $40M | $52M | $50M | $72M | $75M | $85M | $102M | $105M | |
| Prepaid Expense | $4M | $7M | $7M | $7M | $5M | $3M | $2M | $3M | $3M | $4M | $5M | $11M | $9M | |
| Other Current Assets | $4M | $6M | $3M | $3M | $573.0K | $872.0K | $995.0K | $2M | $1M | $768.0K | $2M | $4M | $1M | |
| Current Assets | $97M | $53M | $61M | $67M | $50M | $57M | $68M | $78M | $91M | $99M | $115M | $132M | $147M | |
| PP&E (Net) | $0 | $20.0K | $23.0K | $26.0K | $61.0K | $87.0K | $115.0K | $145.0K | $177.0K | $211.0K | $246.0K | $282.0K | $308.0K | |
| PP&E (Gross) | · | · | $503.0K | · | · | · | $769.0K | · | · | · | $769.0K | · | · | |
| Accum. Depreciation | · | · | $480.0K | · | · | · | $654.0K | · | · | · | $523.0K | · | · | |
| Other Non-current Assets | $810.0K | $810.0K | $810.0K | $810.0K | · | · | $0 | · | · | · | · | · | · | |
| Total Assets | $98M | $54M | $62M | $68M | $51M | $58M | $68M | $79M | $92M | $99M | $116M | $133M | $148M | |
| Accounts Payable | $833.0K | $940.0K | $126.0K | $269.0K | $119.0K | $400.0K | $278.0K | $583.0K | $1M | $470.0K | $976.0K | $464.0K | $689.0K | |
| Accrued Liabilities | $1M | $3M | $4M | $4M | $4M | $3M | $5M | $6M | $10M | $9M | $8M | $9M | $7M | |
| Current Liabilities | $4M | $4M | $4M | $5M | $5M | $4M | $6M | $8M | $12M | $10M | $9M | $9M | $8M | |
| Capital Leases | $0 | $55.0K | $82.0K | $108.0K | · | · | $0 | $0 | $58.0K | $116.0K | $173.0K | $211.0K | $266.0K | |
| Total Liabilities | $4M | $4M | $4M | $5M | $5M | $4M | $6M | $8M | $12M | $10M | $9M | $10M | $8M | |
| Common Stock | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | |
| Paid-in Capital | $361M | $361M | $360M | $359M | $358M | $356M | $355M | $353M | $351M | $343M | $341M | $339M | $336M | |
| Retained Earnings | $-267M | $-310M | $-302M | $-296M | $-312M | $-302M | $-293M | $-282M | $-271M | $-254M | $-235M | $-215M | $-197M | |
| AOCI | $0 | $1.0K | $18.0K | $24.0K | $17.0K | $47.0K | $68.0K | $169.0K | $-71.0K | $-71.0K | $15.0K | $-208.0K | $-272.0K | |
| Stockholders' Equity | $94M | $50M | $58M | $63M | $46M | $54M | $62M | $71M | $80M | $89M | $106M | $124M | $139M | |
| Liabilities + Equity | $98M | $54M | $62M | $68M | $51M | $58M | $68M | $79M | $92M | $99M | $116M | $133M | $148M | |
| Shares Outstanding | 5,306,894 | 5,290,236 | 5,283,321 | 41,935,841 | 41,707,153 | 41,612,039 | 5,188,743 | 41,487,586 | 41,487,586 | 37,811,970 | 37,829,565 | 37,800,856 | 37,790,856 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2.0K | $3.0K | $3.0K | $35.0K | $26.0K | $28.0K | $30.0K | $32.0K | $34.0K | $35.0K | $36.0K | $37.0K | $38.0K | |
| Stock-based Comp | $424.0K | $613.0K | $774.0K | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | |
| Operating Cash Flow | $46M | $-8M | $-5M | $-7M | $-8M | $-10M | $-10M | $-14M | $-10M | $-15M | $-12M | $-16M | $-13M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | $12.0K | $0 | $0 | |
| Investing Cash Flow | $6M | $18M | $4M | $29M | $3M | $11M | $-2M | $22M | $3M | $10M | $17M | $3M | $6M | |
| Stock Issued | · | $3.0K | $0 | $0 | $0 | $0 | $0 | $0 | · | · | $0 | $-209.0K | · | |
| Net Stock Activity | · | $3.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $131.0K | $3.0K | $6.0K | $0 | $10.0K | $0 | $18.0K | $-11.0K | $5M | $0 | $72.0K | $0 | $210.0K | |
| Net Change in Cash | $52M | $10M | $-748.0K | $23M | $-5M | $876.0K | $-11M | $9M | $-3M | $-5M | $5M | $-13M | $-7M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -4119.3% | · | -3266.5% | -4743.9% | -4561.3% | · | -4035.5% | -5697.3% | · | · | · | · | |
| Net Margin | · | -3904.7% | · | 7554.7% | -4576.9% | -4452.4% | · | -3834.8% | -5430.1% | · | · | · | · | |
| Pretax Margin | · | -3904.7% | · | 7554.7% | -4441.5% | -4175.5% | · | -3621.7% | -5267.2% | · | · | · | · | |
| EBITDA Margin | · | -4119.3% | · | -3266.5% | -4743.9% | -4561.3% | · | -4035.5% | -5697.3% | · | · | · | · | |
| ROA | 58.6% | -14.7% | · | 21.8% | -13.5% | -12.0% | · | -10.8% | -13.5% | -14.5% | · | -13.3% | -12.3% | |
| ROE | 62.2% | -15.9% | · | 23.9% | -15.4% | -13.2% | · | -11.8% | -14.8% | -15.6% | · | -14.4% | -13.0% | |
| ROIC | -5.8% | · | · | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 27.3 | 12.9 | · | 14.7 | 10.0 | 14.7 | · | 9.6 | 7.5 | 9.8 | · | 14.1 | 18.2 | |
| Quick Ratio | 26.0 | 11.3 | · | 13.1 | 9.1 | 13.9 | · | 9.2 | 7.3 | 9.3 | · | 12.9 | 17.1 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | · | · | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $17.81 | $9.50 | · | $1.50 | $1.10 | $1.30 | · | $1.71 | $1.93 | $2.36 | · | $3.27 | $3.68 | |
| Revenue / Share | $0.00 | $0.04 | · | $0.00 | $0.00 | $0.00 | · | $0.01 | $0.01 | · | · | · | · | |
| Cash Flow / Share | · | $-1.40 | · | · | · | $-0.23 | · | · | · | $-0.38 | · | · | · | |
| Cash / Share | $17.50 | $7.81 | · | $0.77 | $0.23 | $0.36 | · | $0.61 | $0.40 | $0.51 | · | $0.51 | $0.86 | |
| EPS (TTM) | $4.91 | · | · | · | $-11.83 | $-11.83 | · | $-1.60 | $-1.79 | $-1.88 | · | $-1.78 | $-1.93 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $646.0K | $858.0K | · | $674.0K | $761.0K | $848.0K | · | · | · | · | · | · | · | |
| Net Income TTM | $46M | $-8M | · | $-14M | $-42M | $-48M | · | $-67M | $-74M | $-76M | · | $-71M | $-71M | |
| Market Cap | $85M | $47M | · | $21M | $14M | $27M | · | $49M | $56M | $70M | · | $127M | $214M | |
| P/E | 3.3 | · | · | · | -0.2 | -0.4 | · | -5.8 | -6.0 | -7.9 | · | -15.1 | -23.5 | |
| P/S | 131.4 | 55.3 | · | 248.4 | 148.2 | 257.1 | · | · | · | · | · | · | · | |
| P/B | 0.9 | 0.9 | · | 0.3 | 0.3 | 0.5 | · | 0.7 | 0.7 | 0.8 | · | 1.0 | 1.5 | |
| P / Tangible Book | 0.9 | 0.9 | · | 0.3 | 0.3 | 0.5 | · | 0.7 | 0.7 | 0.8 | · | 1.0 | 1.5 | |
| P / Cash Flow | · | -5.9 | · | · | · | -2.7 | · | · | · | -4.5 | · | · | · | |
| Earnings Yield | 30.7% | · | · | · | -437.5% | -225.8% | · | -17.1% | -16.7% | -12.7% | · | -6.6% | -4.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $858.0K | $636.0K | · | · | · |
| Operating Margin % | -3853.6% | -10082.7% | · | · | · |
| Net Income | $-9M | $-58M | $-75M | $-67M | $-47M |
| Diluted EPS | $-1.59 | $-10.61 | $-1.84 | $-2.09 | $-1.84 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 14.5 | 10.9 | 12.4 | 16.7 | 27.6 |
| Quick Ratio | 13.0 | 10.5 | 11.9 | 15.7 | 26.8 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-49M | $-60M | $-57M | $-46M |
Institutional owners (13F) 41 filers · $67.8M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
41
Value held
$67.8M
New positions
9
Exited positions
9
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 9 | 9 | 9 | 7 | · |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair. Change vs prior quarter not shown: filer coverage differs too much between these two quarters for a reliable comparison.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ADAR1 Capital Management, LLC | $14,821,632 | 926,352 | 21.85% | Shares |
| FMR LLC | $12,715,520 | 794,720 | 18.74% | Shares |
| VIKING GLOBAL INVESTORS LP | $8,389,552 | 524,347 | 12.37% | Shares |
| TPG GP A, LLC | $6,056,816 | 378,551 | 8.93% | Shares |
| Pivotal bioVenture Partners Investment Advisor LLC | $4,809,264 | 300,579 | 7.09% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,198,512 | 199,907 | 4.71% | Shares |
| Nantahala Capital Management, LLC | $3,014,752 | 188,422 | 4.44% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,759,952 | 172,497 | 4.07% | Shares |
| Almitas Capital LLC | $1,930,912 | 120,682 | 2.85% | Shares |
| Rangeley Capital, LLC | $1,677,600 | 104,850 | 2.47% | Shares |
| New Leaf Venture Partners, L.L.C. | $1,647,500 | 3,301,603 | 2.43% | Shares |
| CITADEL ADVISORS LLC | $1,155,200 | 72,200 | 1.70% | Shares |
| AJU IB Investment Co., Ltd. | $846,176 | 94,334 | 1.25% | Shares |
| Mariner, LLC | $809,056 | 50,566 | 1.19% | Shares |
| JANE STREET GROUP, LLC | $758,768 | 47,423 | 1.12% | Shares |
| VANGUARD GROUP INC | $697,147 | 1,016,249 | 1.03% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $512,865 | 32,047 | 0.76% | Shares |
| BlackRock, Inc. | $485,312 | 30,332 | 0.72% | Shares |
| XTX Topco Ltd | $343,952 | 21,497 | 0.51% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $269,120 | 16,820 | 0.40% | Shares |
| TWO SIGMA INVESTMENTS, LP | $265,904 | 16,619 | 0.39% | Shares |
| STATE STREET CORP | $207,936 | 12,996 | 0.31% | Shares |
| Quadrature Capital Ltd | $207,920 | 12,995 | 0.31% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $180,480 | 11,280 | 0.27% | Shares |
| Vanguard Global Advisers, LLC | $23,072 | 1,442 | 0.03% | Shares |
| TWO SIGMA ADVISERS, LP | $13,242 | 19,300 | 0.02% | Shares |
| Hartford Financial Management Inc. | $12,992 | 812 | 0.02% | Shares |
| SBI Securities Co., Ltd. | $8,096 | 506 | 0.01% | Shares |
| Caitong International Asset Management Co., Ltd | $6,944 | 434 | 0.01% | Shares |
| UBS Group AG | $2,336 | 146 | 0.00% | Shares |
| Truvestments Capital LLC | $2,064 | 129 | 0.00% | Shares |
| MORGAN STANLEY | $2,000 | 125 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,920 | 120 | 0.00% | Shares |
| Fortitude Family Office, LLC | $848 | 53 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $592 | 37 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $496 | 31 | 0.00% | Shares |
| HRT FINANCIAL LP | $410 | 25,657 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $145 | 9 | 0.00% | Shares |
| Allworth Financial LP | $96 | 6 | 0.00% | Shares |
| BARCLAYS PLC | $48 | 3 | 0.00% | Shares |
| DANSKE BANK A/S | $16 | 1 | 0.00% | Shares |
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| 5AM Ventures V, L.P., 5AM Partners V, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Kush Parmar, Scott M. Rocklage ×2 filings | May 6, 2026 | 0.00% | Amendment | · | SEC |
| TPG GP A, LLC, James G. Coulter, Jon Winkelried ×2 filings | March 3, 2026 | 7.20% | Amendment | M&A / sale | SEC |
| Nan Fung Group Holdings Limited, NF Investment Holdings Limited, Pivotal bioVenture Partners Fund I, L.P., Pivotal bioVenture Partners Fund I G.P., L.P., Pivotal bioVenture Partners Fund I U.G.P. Ltd., Pivotal Partners Ltd, Pivotal Life Sciences Holdings Limited, Nan Fung Life Sciences Holdings Limited ×2 filings | Feb. 12, 2024 | · | Initial filing | · | SEC |
| 5AM Partners V, LLC, 5AM Opportunities I, L.P., 5AM Opportunities I (GP), LLC, Andrew J. Schwab, Dr. Kush Parmar, Dr. Scott M. Rocklage ×2 filings | June 7, 2022 | · | Initial filing | · | SEC |
| TPG Group Holdings (SBS) Advisors, Inc., David Bonderman, James G. Coulter | Aug. 12, 2021 | · | Initial filing | Capital structure | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 15 insiders · 4 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stephen Uden | Chief Executive Officer | Feb. 14, 2025 A | 719,127 | 0 | 0 | $0 |
| Jonathan I Lieber | Chief Financial Officer | Sept. 29, 2026 M | 9,740 | 0 | 1 | $-3,992 |
| Jeffrey M Fryer | Chief Financial Officer & Treasurer | March 21, 2022 P | 47,048 | 0 | 0 | $0 |
| Steven Ryder | Chief Medical Officer | Feb. 14, 2025 A | · | 0 | 0 | $0 |
| Hui Liu | Director | Sept. 24, 2026 M | 12,044 | 0 | 0 | $0 |
| Wendy Chung | Director | Sept. 16, 2026 M | 3,562 | 0 | 0 | $0 |
| Helen M Boudreau | Director | July 6, 2026 M | 6,542 | 0 | 0 | $0 |
| Martin Mackay | Director | Feb. 18, 2026 A | 282,609 | 0 | 0 | $0 |
| Ronald Hunt | Director | Feb. 18, 2026 A | 2,301,603 | 0 | 0 | $0 |
| Paula Soteropoulos | Director | May 13, 2025 A | · | 0 | 0 | $0 |
| Christine A Nash | Director | May 13, 2025 A | · | 0 | 0 | $0 |
| Robert Lorne Hopfner | Director | May 13, 2025 A | 2,267,411 | 0 | 0 | $0 |
| Kush Parmar | Director | May 15, 2024 A | 2,378,969 | 0 | 0 | $0 |
| Timothy M Shannon | Director | Jan. 3, 2022 A | 2,409,712 | 0 | 0 | $0 |
| FMR LLC | · | Aug. 2, 2021 C | 1,694,388 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 5 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IWC · iShares Trust | 0.01% | 11,754 SH | Sept. 10, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 6,675 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 32,447 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 134,620 SH | Aug. 19, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 578 NS | July 31, 2026 | N-PORT |
RLYB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 6 analysts
SELL
0 0.0%
Strong Buy
0 0.0%
Buy
3 50.0%
Hold
1 16.7%
Sell
2 33.3%
Strong Sell
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RLYB | $4M | -0.4 | 34.9% | -1046.4% | -17.3% | · |
| ANIX | $136M | -12.1 | 0.00% | · | -62.2% | · |
| ATRA | $132M | 7.0 | -6.3% | 27.1% | -88.9% | · |
| BMEA | $90M | -1.1 | -67.1% | -3326.0% | -216.6% | · |
| MNOV | $64M | -5.5 | · | -2928.8% | -27.1% | · |
| ICCC | · | -51.2 | 4.3% | · | · | · |
| CTOR | $170M | -6.0 | · | · | -61.5% | · |
| CNXU | · | · | · | · | · | · |
| EQ | $95M | -4.0 | 13.9% | · | -133.1% | · |
| CRDF | $192M | -4.1 | -13.2% | -7732.0% | -88.2% | · |
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Source: SEC 10-Q filed Aug 6, 2026