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

Rezolute, Inc. (NASDAQ:RZLT) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,300,000 shares, a growth of 59.6% from the May 31st total of 814,600 shares. Based on an average daily volume of 671,000 shares, the short-interest ratio is currently 1.9 days.

Insider Buying and Selling at Rezolute

In related news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $161,600.00. Following the purchase, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $161,600. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders purchased 57,124 shares of company stock worth $220,314. Insiders own 20.80% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently bought and sold shares of RZLT. Federated Hermes Inc. raised its holdings in Rezolute by 53.6% during the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock valued at $10,083,000 after acquiring an additional 3,544,053 shares during the period. Vivo Capital LLC raised its holdings in Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after acquiring an additional 2,758,403 shares during the period. Affinity Asset Advisors LLC bought a new stake in Rezolute during the 1st quarter valued at $4,080,000. Rosalind Advisors Inc. bought a new stake in Rezolute during the 1st quarter valued at $510,000. Finally, Vanguard Group Inc. raised its holdings in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after acquiring an additional 145,700 shares during the period. Institutional investors own 82.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RZLT shares. Jonestrading started coverage on Rezolute in a research note on Thursday, April 18th. They issued a “buy” rating and a $10.00 target price on the stock. Maxim Group started coverage on Rezolute in a research note on Tuesday, April 9th. They issued a “buy” rating and a $8.00 target price on the stock. Craig Hallum started coverage on Rezolute in a research note on Tuesday, June 4th. They issued a “buy” rating and a $14.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Rezolute in a research note on Thursday, April 18th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Wednesday, May 22nd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Rezolute currently has an average rating of “Buy” and an average target price of $9.67.

Rezolute Stock Up 7.2 %

Rezolute stock traded up $0.29 during trading on Friday, hitting $4.30. The stock had a trading volume of 356,407 shares, compared to its average volume of 497,901. Rezolute has a 1 year low of $0.72 and a 1 year high of $6.10. The stock’s 50 day moving average is $3.66 and its two-hundred day moving average is $2.29. The stock has a market cap of $172.56 million, a price-to-earnings ratio of -3.77 and a beta of 1.31.

Rezolute (NASDAQ:RZLT) last issued its 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). As a group, equities research analysts anticipate that Rezolute will post -1.15 EPS 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.