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

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. Approximately 4.4% of the shares of the company are sold short. Based on an average daily trading volume, of 452,800 shares, the short-interest ratio is currently 4.8 days.

Insider Activity

In other news, Director Wladimir Hogenhuis purchased 10,000 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 77,267 shares of the company’s stock, valued at $363,154.90. This trade represents a 14.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rezolute in the 3rd quarter worth about $65,000. Jacobs Levy Equity Management Inc. purchased a new position in Rezolute in the third quarter worth about $239,000. State Street Corp increased its stake in Rezolute by 11.6% during the third quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after acquiring an additional 13,000 shares during the last quarter. XTX Topco Ltd raised its position in Rezolute by 67.4% during the third quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock valued at $273,000 after purchasing an additional 22,704 shares during the period. Finally, MML Investors Services LLC purchased a new position in shares of Rezolute in the 3rd quarter worth approximately $57,000. Institutional investors own 82.97% of the company’s stock.

Rezolute Trading Down 1.2 %

NASDAQ:RZLT opened at $3.33 on Thursday. The business’s 50-day moving average is $4.52 and its 200 day moving average is $4.84. Rezolute has a 12 month low of $1.76 and a 12 month high of $6.19. The company has a market capitalization of $201.58 million, a P/E ratio of -2.73 and a beta of 0.95.

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

Analyst Upgrades and Downgrades

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

Rezolute Company Profile

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.