Rezolute, Inc. (NASDAQ:RZLT) Short Interest Down 16.7% in September

Rezolute, Inc. (NASDAQ:RZLT) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,050,000 shares, a drop of 16.7% from the August 31st total of 1,260,000 shares. Based on an average daily volume of 325,100 shares, the days-to-cover ratio is presently 3.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RZLT. Vanguard Group Inc. increased its position 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 purchasing an additional 145,700 shares during the period. Acadian Asset Management LLC purchased a new position in Rezolute during the 1st quarter valued at $229,000. Affinity Asset Advisors LLC purchased a new position in Rezolute during the 1st quarter valued at $4,080,000. Virtu Financial LLC purchased a new stake in shares of Rezolute in the 1st quarter worth about $37,000. Finally, Rosalind Advisors Inc. grew its position in shares of Rezolute by 25.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock worth $1,075,000 after buying an additional 50,000 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Rezolute Price Performance

RZLT opened at $4.98 on Monday. Rezolute has a one year low of $0.72 and a one year high of $6.10. The business has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $3.85. The firm has a market capitalization of $199.87 million, a price-to-earnings ratio of -4.37 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). As a group, sell-side analysts expect that Rezolute will post -1.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RZLT shares. JMP Securities restated a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a research report on Friday, September 20th. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Rezolute in a report on Friday. Maxim Group raised their price target on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Craig Hallum initiated coverage on Rezolute in a research report on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, BTIG Research raised their target price on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $11.57.

About Rezolute

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.