Rezolute, Inc. (NASDAQ:RZLT) Sees Large Growth in Short Interest

Rezolute, Inc. (NASDAQ:RZLT) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 1,620,000 shares, a growth of 17.4% from the January 15th total of 1,380,000 shares. Based on an average daily trading volume, of 455,400 shares, the short-interest ratio is presently 3.6 days.

Rezolute Price Performance

NASDAQ RZLT traded down $0.20 on Monday, reaching $4.61. 357,547 shares of the company’s stock traded hands, compared to its average volume of 606,312. The stock has a market cap of $267.10 million, a PE ratio of -3.63 and a beta of 1.10. Rezolute has a 12 month low of $1.13 and a 12 month high of $6.19. The stock has a 50-day simple moving average of $4.86 and a 200 day simple moving average of $4.90.

Rezolute (NASDAQ:RZLT) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.11. As a group, analysts anticipate that Rezolute will post -0.99 EPS for the current year.

Analyst Ratings Changes

RZLT has been the topic of several recent analyst reports. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. JMP Securities boosted their price target on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $24.38.

Insider Buying and Selling

In other news, CFO Daron Evans purchased 10,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at $647,361. This represents a 7.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 18.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of Rezolute in the 3rd quarter valued at about $42,000. Charles Schwab Investment Management Inc. increased its stake in Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after purchasing an additional 9,000 shares during the period. Virtu Financial LLC lifted its position in Rezolute by 58.0% in the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after purchasing an additional 9,551 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of Rezolute during the fourth quarter valued at approximately $54,000. Finally, MML Investors Services LLC bought a new position in shares of Rezolute in the third quarter worth approximately $57,000. 82.97% of the stock is owned by institutional investors.

About Rezolute

Rezolute, Inc, a clinical stage biopharmaceutical company, develops therapies for metabolic diseases associated with chronic glucose imbalance in the United States. The company's lead product candidate is RZ358, a human monoclonal antibody that is in Phase 2b clinical trial for the treatment of congenital hyperinsulinism, an ultra-rare pediatric genetic disorder.