Rezolute, Inc. (NASDAQ:RZLT) Receives Average Rating of “Buy” from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has been assigned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $24.38.

A number of brokerages have commented on RZLT. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. JMP Securities upped their target price on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating on shares of Rezolute in a research note on Monday, February 10th.

Rezolute Price Performance

Rezolute stock opened at $2.93 on Monday. The stock’s 50 day moving average is $4.26 and its 200 day moving average is $4.75. Rezolute has a one year low of $2.22 and a one year high of $6.19. The firm has a market cap of $177.37 million, a P/E ratio of -2.40 and a beta of 0.95.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Equities analysts anticipate that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $2.89 per share, for a total transaction of $28,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 237,900 shares in the company, valued at $687,531. The trade was a 4.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 18.39% of the stock is owned by company insiders.

Institutional Trading of Rezolute

Hedge funds have recently bought and sold shares of the business. Alpine Global Management LLC acquired a new position in Rezolute during the fourth quarter worth $54,000. Woodline Partners LP raised its holdings in shares of Rezolute by 2,817.1% in the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock worth $5,338,000 after acquiring an additional 1,052,002 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in Rezolute by 48.5% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company’s stock valued at $97,000 after acquiring an additional 6,470 shares in the last quarter. Point72 Europe London LLP acquired a new position in Rezolute during the 4th quarter valued at about $720,000. Finally, Man Group plc bought a new stake in Rezolute during the 4th quarter worth approximately $425,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.