Rezolute, Inc. (NASDAQ:RZLT) Sees Large Growth in Short Interest

Rezolute, Inc. (NASDAQ:RZLT) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 814,600 shares, a growth of 162.0% from the May 15th total of 310,900 shares. Based on an average daily volume of 571,100 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Upgrades and Downgrades

RZLT has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a research report on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Wednesday, May 22nd. Maxim Group initiated coverage on shares of Rezolute in a research note on Tuesday, April 9th. They set a “buy” rating and a $8.00 price objective on the stock. Craig Hallum initiated coverage on shares of Rezolute in a research note on Tuesday, June 4th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Jonestrading initiated coverage on shares of Rezolute in a research note on Thursday, April 18th. They set a “buy” rating and a $10.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $9.67.

Rezolute Price Performance

Rezolute stock opened at $3.95 on Friday. The company’s fifty day moving average price is $3.45 and its 200 day moving average price is $2.07. Rezolute has a 1 year low of $0.72 and a 1 year high of $6.10.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, sell-side analysts predict that Rezolute will post -1.15 earnings per share for the current fiscal year.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of Rezolute stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $4.04 per share, with a total value of $161,600.00. Following the transaction, the chief financial officer now owns 40,000 shares of the company’s stock, valued at approximately $161,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 52,809 shares of company stock valued at $201,607 in the last three months. 20.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vivo Capital LLC boosted its stake in Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock worth $3,219,000 after purchasing an additional 2,758,403 shares during the last quarter. Federated Hermes Inc. boosted its stake in Rezolute by 53.6% during the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock worth $10,083,000 after purchasing an additional 3,544,053 shares during the last quarter. Vanguard Group Inc. boosted its stake in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after purchasing an additional 145,700 shares during the last quarter. Virtu Financial LLC acquired a new stake in Rezolute during the 1st quarter worth $37,000. Finally, Acadian Asset Management LLC acquired a new stake in Rezolute during the 1st quarter worth $229,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.