Rezolute, Inc. (NASDAQ:RZLT) Short Interest Up 19.3% in February

Rezolute, Inc. (NASDAQ:RZLT) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,160,000 shares, an increase of 19.3% from the February 13th total of 1,810,000 shares. Based on an average daily volume of 452,800 shares, the short-interest ratio is presently 4.8 days. Currently, 4.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JMP Securities lifted their price target on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Buy” and a consensus price target of $24.38.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Rezolute by 39.0% during the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after purchasing an additional 137,905 shares during the last quarter. MML Investors Services LLC acquired a new position in Rezolute in the third quarter valued at approximately $57,000. JPMorgan Chase & Co. acquired a new position in Rezolute in the third quarter valued at approximately $42,000. State Street Corp lifted its holdings in Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Rezolute in the third quarter valued at approximately $239,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Stock Down 3.7 %

Shares of Rezolute stock traded down $0.13 on Tuesday, hitting $3.37. 1,698,458 shares of the company were exchanged, compared to its average volume of 463,752. The stock has a market capitalization of $204.00 million, a price-to-earnings ratio of -2.76 and a beta of 0.95. The company has a 50-day moving average price of $4.60 and a 200 day moving average price of $4.86. Rezolute has a 1-year low of $1.68 and a 1-year high of $6.19.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. Research analysts forecast that Rezolute will post -0.93 EPS for the current year.

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.