Short Interest in Rezolute, Inc. (NASDAQ:RZLT) Declines By 88.2%

Rezolute, Inc. (NASDAQ:RZLT) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 214,700 shares, a decrease of 88.2% from the February 29th total of 1,820,000 shares. Based on an average daily volume of 287,300 shares, the days-to-cover ratio is currently 0.7 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Thursday, March 7th.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.31 during trading hours on Thursday, hitting $2.55. The company’s stock had a trading volume of 594,499 shares, compared to its average volume of 310,013. Rezolute has a 12 month low of $0.72 and a 12 month high of $2.69. The business has a 50-day simple moving average of $1.49 and a 200-day simple moving average of $1.18. The stock has a market cap of $101.03 million, a price-to-earnings ratio of -2.34 and a beta of 1.22.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.27). On average, equities research analysts forecast that Rezolute will post -1.06 EPS for the current year.

Insider Transactions at Rezolute

In other news, Director Young-Jin Kim bought 36,503 shares of the stock in a transaction dated Thursday, March 7th. The shares were bought at an average cost of $1.91 per share, with a total value of $69,720.73. Following the completion of the transaction, the director now directly owns 115,450 shares of the company’s stock, valued at $220,509.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Young-Jin Kim acquired 36,503 shares of the stock in a transaction dated Thursday, March 7th. The stock was purchased at an average cost of $1.91 per share, with a total value of $69,720.73. Following the completion of the purchase, the director now directly owns 115,450 shares in the company, valued at approximately $220,509.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daron Evans bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the transaction, the chief financial officer now owns 120,900 shares of the company’s stock, valued at $233,337. The disclosure for this purchase can be found here. Insiders have purchased 178,903 shares of company stock valued at $305,326 in the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in Rezolute in the fourth quarter worth about $32,000. FMR LLC purchased a new position in Rezolute during the first quarter valued at $39,000. Renaissance Technologies LLC bought a new stake in Rezolute in the second quarter worth $58,000. Charles Schwab Investment Management Inc. bought a new position in shares of Rezolute during the fourth quarter valued at $67,000. Finally, State Street Corp bought a new stake in Rezolute during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors 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.