Rezolute, Inc. (NASDAQ:RZLT – Get Free Report) saw a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 18,891,182 shares, an increase of 46.4% from the December 31st total of 12,905,117 shares. Based on an average daily trading volume, of 5,522,071 shares, the days-to-cover ratio is currently 3.4 days. Currently, 23.9% of the company’s shares are short sold. Currently, 23.9% of the company’s shares are short sold. Based on an average daily trading volume, of 5,522,071 shares, the days-to-cover ratio is currently 3.4 days.
Several analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research report on Thursday, January 22nd. Guggenheim decreased their price objective on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Cantor Fitzgerald cut shares of Rezolute from an “overweight” rating to a “neutral” rating in a report on Thursday, December 11th. Finally, BTIG Research reaffirmed a “buy” rating and set a $5.00 price objective on shares of Rezolute in a research report on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $8.67.
Shares of Rezolute stock opened at $3.34 on Friday. The firm has a market cap of $309.72 million, a price-to-earnings ratio of -3.59 and a beta of 0.39. The stock has a 50-day simple moving average of $4.40 and a 200-day simple moving average of $6.70. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46.
Rezolute (NASDAQ:RZLT – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. As a group, equities research analysts predict that Rezolute will post -0.93 earnings per share for the current year.
In other news, CEO Nevan C. Elam bought 32,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average cost of $1.59 per share, with a total value of $50,880.00. Following the completion of the transaction, the chief executive officer directly owned 641,119 shares in the company, valued at approximately $1,019,379.21. The trade was a 5.25% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daron Evans purchased 40,000 shares of Rezolute stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average price of $1.77 per share, with a total value of $70,800.00. Following the transaction, the chief financial officer owned 415,900 shares in the company, valued at $736,143. This represents a 10.64% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 89,100 shares of company stock worth $150,232. 14.78% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of RZLT. Goldman Sachs Group Inc. bought a new position in Rezolute during the first quarter valued at about $685,000. ProShare Advisors LLC bought a new stake in shares of Rezolute during the 2nd quarter worth about $61,000. Geode Capital Management LLC increased its holdings in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock valued at $7,633,000 after acquiring an additional 1,143,834 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Rezolute in the 2nd quarter valued at approximately $68,000. Finally, Intech Investment Management LLC acquired a new stake in Rezolute in the 2nd quarter worth approximately $147,000. 82.97% of the stock is owned by institutional investors and hedge funds.
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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.
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