Short Interest in Rezolute, Inc. (NASDAQ:RZLT) Rises By 17.4%

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,620,000 shares, an increase of 17.4% from the January 15th total of 1,380,000 shares. Based on an average daily volume of 455,400 shares, the short-interest ratio is presently 3.6 days.

Rezolute Stock Down 4.6 %

Shares of RZLT traded down $0.22 on Wednesday, hitting $4.55. 333,405 shares of the stock traded hands, compared to its average volume of 535,128. Rezolute has a 1 year low of $1.41 and a 1 year high of $6.19. The stock's 50 day moving average is $4.85 and its two-hundred day moving average is $4.91. The firm has a market capitalization of $275.41 million, a P/E ratio of -3.73 and a beta of 1.10.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. Research analysts forecast that Rezolute will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Daron Evans purchased 10,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the chief financial officer now owns 150,900 shares of the company's stock, valued at approximately $647,361. This represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.39% of the company's stock.

Institutional Trading of Rezolute

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on RZLT. Wedbush reissued an "outperform" rating and set a $112.00 price target on shares of Rezolute in a research report on Monday, November 4th. JMP Securities upped their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of Rezolute in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.