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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Rezolute

In other Rezolute news, Director Wladimir Hogenhuis bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 77,267 shares of the company’s stock, valued at approximately $363,154.90. This trade represents a 14.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Rezolute by 39.0% during the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares during the period. MML Investors Services LLC bought a new stake in shares of Rezolute in the 3rd quarter worth approximately $57,000. JPMorgan Chase & Co. purchased a new position in shares of Rezolute during the third quarter valued at approximately $42,000. State Street Corp raised its holdings in shares of Rezolute by 11.6% during 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Rezolute during the third quarter valued at approximately $239,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Rezolute Stock Performance

NASDAQ RZLT traded down $0.02 on Wednesday, hitting $3.35. The stock had a trading volume of 180,954 shares, compared to its average volume of 463,274. The firm has a 50-day moving average of $4.56 and a 200-day moving average of $4.85. The company has a market capitalization of $202.79 million, a price-to-earnings ratio of -2.75 and a beta of 0.95. Rezolute has a 52-week low of $1.74 and a 52-week high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. As a group, research analysts anticipate that Rezolute will post -0.93 earnings per share for the current fiscal year.

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.