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

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,160,000 shares, a growth 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 currently 4.8 days. Approximately 4.4% of the company's shares are short sold.

Rezolute Trading Down 1.3 %

Shares of NASDAQ:RZLT traded down $0.04 on Friday, reaching $3.05. The company had a trading volume of 519,152 shares, compared to its average volume of 468,469. Rezolute has a 52-week low of $1.89 and a 52-week high of $6.19. The firm's 50 day simple moving average is $4.44 and its 200-day simple moving average is $4.82. The firm has a market capitalization of $184.63 million, a PE ratio of -2.50 and a beta of 0.95.

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

Insider Activity

In other Rezolute news, Director Wladimir Hogenhuis purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now owns 77,267 shares of the company's stock, valued at approximately $363,154.90. The trade was a 14.87 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 18.39% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Rezolute in the 3rd quarter worth $42,000. Alpine Global Management LLC acquired a new stake in shares of Rezolute in the 4th quarter worth $54,000. MML Investors Services LLC acquired a new stake in shares of Rezolute in the 3rd quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rezolute in the 3rd quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock worth $112,000 after purchasing an additional 9,000 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RZLT has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of Rezolute in a research note on Thursday, February 13th. JMP Securities raised their price objective on Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Craig Hallum upgraded Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Guggenheim restated a "buy" rating on shares of Rezolute in a report on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Rezolute has an average rating of "Buy" and an average target price 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.