Rezolute, Inc. (NASDAQ:RZLT) Short Interest Down 21.2% in March
by Jessica Moore · The Cerbat GemRezolute, Inc. (NASDAQ:RZLT – Get Free Report) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 13,353,457 shares, a decline of 21.2% from the March 15th total of 16,940,089 shares. Approximately 16.4% of the company’s stock are short sold. Based on an average daily volume of 4,609,946 shares, the days-to-cover ratio is currently 2.9 days.
Rezolute Stock Down 2.3%
Shares of RZLT traded down $0.08 during mid-day trading on Friday, hitting $3.46. 1,108,503 shares of the company traded hands, compared to its average volume of 3,112,715. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market capitalization of $331.12 million, a PE ratio of -3.72 and a beta of 0.65. The business has a 50 day moving average of $3.19 and a 200 day moving average of $5.32.
Rezolute (NASDAQ:RZLT – Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). As a group, research analysts expect that Rezolute will post -0.93 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Wedbush upgraded shares of Rezolute from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $2.00 to $5.00 in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Finally, BTIG Research restated a “buy” rating and set a $5.00 price objective on shares of Rezolute in a report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rezolute currently has a consensus rating of “Hold” and a consensus price target of $8.00.
Check Out Our Latest Stock Analysis on RZLT
Institutional Investors Weigh In On Rezolute
A number of large investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new stake in Rezolute in the 4th quarter worth approximately $21,665,000. Opaleye Management Inc. boosted its position in Rezolute by 595.9% in the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after purchasing an additional 5,383,714 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Rezolute by 147.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock worth $10,636,000 after purchasing an additional 2,684,133 shares in the last quarter. Federated Hermes Inc. boosted its position in Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock worth $39,022,000 after purchasing an additional 2,500,000 shares in the last quarter. Finally, State Street Corp boosted its position in Rezolute by 90.4% in the 4th quarter. State Street Corp now owns 3,981,708 shares of the company’s stock worth $9,397,000 after purchasing an additional 1,890,232 shares in the last quarter. 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.