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

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

Insider Buying and Selling

In related news, CFO Daron Evans bought 9,000 shares of Rezolute stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $41,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 140,900 shares of the company’s stock, valued at approximately $648,140. The trade was a 6.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 18.39% of the stock is currently owned by insiders.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new position in shares of Rezolute in the third quarter valued at approximately $42,000. Alpine Global Management LLC purchased a new stake in Rezolute in the 4th quarter valued at $54,000. MML Investors Services LLC bought a new position in Rezolute during the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rezolute during the 3rd quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 acquiring an additional 9,000 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Rezolute Stock Performance

Rezolute stock traded down $0.20 during mid-day trading on Monday, reaching $4.61. The stock had a trading volume of 357,547 shares, compared to its average volume of 606,312. The firm has a market capitalization of $267.10 million, a PE ratio of -3.63 and a beta of 1.10. Rezolute has a fifty-two week low of $1.13 and a fifty-two week high of $6.19. The stock’s 50-day simple moving average is $4.86 and its 200-day simple moving average is $4.90.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.11. On average, research analysts forecast that Rezolute will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JMP Securities increased their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday. Wedbush reiterated an “outperform” rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. Craig Hallum raised Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Thursday. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $24.38.

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.