Rezolute, Inc. (NASDAQ:RZLT) Short Interest Down 21.2% in March

Key Points

• Short interest fell 21.2% in March to 13,353,457 shares, equal to about 16.4% of the company's shares sold short and a days-to-cover ratio of 2.9 based on average daily volume.
• Analyst coverage is mixed with a consensus rating of Hold and an average price target of $8.00 (six Buys, four Holds, one Sell); the stock trades at $3.54 after a recent quarterly EPS miss and negative earnings outlook.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 13,353,457 shares, a decrease of 21.2% from the March 15th total of 16,940,089 shares. Approximately 16.4% of the shares of the company are sold short. Based on an average daily volume of 4,609,946 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Rezolute in a report on Thursday, January 22nd. BTIG Research reiterated a "buy" rating and issued a $5.00 price target on shares of Rezolute in a research note on Thursday, January 8th. Finally, Wedbush upgraded shares of Rezolute from a "neutral" rating to an "outperform" rating and upped their price target for the company from $2.00 to $5.00 in a research note on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.00.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded down $0.05 during trading hours on Thursday, hitting $3.54. 882,881 shares of the stock were exchanged, compared to its average volume of 3,140,534. The company has a market cap of $338.78 million, a PE ratio of -3.81 and a beta of 0.65. The company's fifty day simple moving average is $3.18 and its two-hundred day simple moving average is $5.33. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). As a group, sell-side analysts expect that Rezolute will post -0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new position in shares of Rezolute during the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Rezolute during the fourth quarter valued at $494,000. Virtu Financial LLC bought a new position in shares of Rezolute during the fourth quarter valued at $355,000. XTX Topco Ltd raised its stake in shares of Rezolute by 1,879.7% during the fourth quarter. XTX Topco Ltd now owns 481,949 shares of the company's stock valued at $1,137,000 after acquiring an additional 457,604 shares during the last quarter. Finally, Ikarian Capital LLC acquired a new stake in shares of Rezolute during the fourth quarter worth $39,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.