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

Rezolute, Inc. (NASDAQ:RZLTGet Rating) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 120,300 shares, an increase of 1,594.4% from the March 15th total of 7,100 shares. Based on an average daily volume of 193,100 shares, the days-to-cover ratio is presently 0.6 days.

Several research firms recently weighed in on RZLT. Roth Capital increased their target price on shares of Rezolute from $23.00 to $25.00 in a research note on Wednesday, March 23rd. Zacks Investment Research upgraded Rezolute from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.33.

Shares of RZLT opened at $3.58 on Thursday. The company has a quick ratio of 12.12, a current ratio of 12.12 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $3.52 and a two-hundred day moving average price of $4.88. The stock has a market cap of $55.69 million, a price-to-earnings ratio of -1.22 and a beta of 3.62. Rezolute has a 12 month low of $2.26 and a 12 month high of $17.39.

Rezolute (NASDAQ:RZLTGet Rating) last issued its earnings results on Wednesday, February 9th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.77) by ($0.03). Equities research analysts expect that Rezolute will post -3.53 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. UBS Group AG lifted its holdings in Rezolute by 299.9% during the 3rd quarter. UBS Group AG now owns 3,671 shares of the company’s stock valued at $27,000 after purchasing an additional 2,753 shares during the last quarter. Shay Capital LLC acquired a new position in shares of Rezolute in the 4th quarter worth approximately $56,000. Oppenheimer & Co. Inc. bought a new stake in Rezolute during the 3rd quarter worth approximately $92,000. BlackRock Inc. raised its position in Rezolute by 60.9% in the 4th quarter. BlackRock Inc. now owns 19,583 shares of the company’s stock valued at $94,000 after purchasing an additional 7,413 shares during the last quarter. Finally, Northern Trust Corp raised its position in Rezolute by 45.7% in the 4th quarter. Northern Trust Corp now owns 52,293 shares of the company’s stock valued at $250,000 after purchasing an additional 16,394 shares during the last quarter. Institutional investors own 34.80% of the company’s stock.

About Rezolute (Get Rating)

Rezolute, Inc operates as a biopharmaceutical company, which engages in the development of drug therapies for patients with metabolic and orphan diseases. Its products portfolio includes RZ358-Phase 2, an antibody for the ultra-orphan indication of congenital hyperinsulinism, AB101-Phase 1, a once-weekly injectable basal insulin, and RZ402, which targets diabetic macular edema.

Further Reading

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