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

Rezolute, Inc. (NASDAQ:RZLT) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 18,891,182 shares, an increase of 46.4% from the December 31st total of 12,905,117 shares. Based on an average daily volume of 5,522,071 shares, the days-to-cover ratio is presently 3.4 days. Approximately 23.9% of the shares of the company are sold short. Approximately 23.9% of the shares of the company are sold short. Based on an average daily volume of 5,522,071 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RZLT shares. Maxim Group set a $4.00 price objective on Rezolute in a research report on Friday, December 12th. JMP Securities set a $17.00 price target on Rezolute in a report on Wednesday, October 29th. Wedbush increased their price objective on Rezolute to $2.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. HC Wainwright dropped their target price on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Finally, Wall Street Zen cut shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.67.

Rezolute Price Performance

Shares of RZLT stock opened at $3.34 on Friday. Rezolute has a one year low of $1.07 and a one year high of $11.46. The stock has a fifty day moving average price of $4.40 and a 200 day moving average price of $6.70. The stock has a market cap of $309.72 million, a P/E ratio of -3.59 and a beta of 0.39.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. Equities research analysts anticipate that Rezolute will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Nevan C. Elam bought 32,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. The trade was a 5.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Daron Evans purchased 40,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were purchased at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the acquisition, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 89,100 shares of company stock valued at $150,232 over the last 90 days. 14.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new stake in Rezolute in the third quarter valued at $61,000. Ameritas Investment Partners Inc. acquired a new position in Rezolute during the second quarter worth $30,000. Legal & General Group Plc bought a new position in shares of Rezolute during the second quarter valued at $32,000. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Rezolute in the 3rd quarter valued at $94,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.