Rezolute, Inc. (NASDAQ:RZLT) Short Interest Update

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

Rezolute Stock Down 3.0%

Rezolute stock opened at $3.24 on Tuesday. The company’s fifty day simple moving average is $4.27 and its 200-day simple moving average is $6.69. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock has a market cap of $300.45 million, a P/E ratio of -3.48 and a beta of 0.46.

Rezolute (NASDAQ:RZLT) last posted its earnings results 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. On average, equities research analysts expect that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insider Transactions at Rezolute

In other Rezolute news, CEO Nevan C. Elam acquired 32,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average cost of $1.59 per share, with a total value of $50,880.00. Following the purchase, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. The trade was a 5.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available 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 stock was acquired at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the completion of the purchase, the chief financial officer owned 415,900 shares in the company, valued at $736,143. The trade was a 10.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 89,100 shares of company stock worth $150,232. 14.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rezolute

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in Rezolute in the 2nd quarter valued at $25,000. HB Wealth Management LLC acquired a new stake in Rezolute during the fourth quarter worth about $26,000. Fifth Third Wealth Advisors LLC bought a new position in Rezolute during the fourth quarter valued at about $29,000. Ameritas Investment Partners Inc. bought a new stake in shares of Rezolute during the second quarter valued at approximately $30,000. Finally, Legal & General Group Plc bought a new stake in shares of Rezolute during the second quarter valued at approximately $32,000. Institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

RZLT has been the topic of several research analyst reports. Guggenheim reduced their price target on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Maxim Group set a $4.00 price objective on Rezolute in a report on Friday, December 12th. Craig Hallum lowered Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Finally, Citigroup lowered shares of Rezolute from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.67.

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