Analysts Set Rezolute, Inc. (NASDAQ:RZLT) Price Target at $10.14

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $10.14.

RZLT has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $7.00 target price on shares of Rezolute in a report on Thursday, April 18th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Rezolute in a report on Wednesday, May 22nd. Maxim Group initiated coverage on shares of Rezolute in a report on Tuesday, April 9th. They set a “buy” rating and a $8.00 target price for the company. Craig Hallum started coverage on shares of Rezolute in a report on Tuesday, June 4th. They set a “buy” rating and a $14.00 target price for the company. Finally, Jonestrading started coverage on shares of Rezolute in a research note on Thursday, April 18th. They issued a “buy” rating and a $10.00 price target for the company.

Rezolute Stock Down 1.3 %

NASDAQ RZLT opened at $4.50 on Wednesday. The company has a 50-day simple moving average of $4.36 and a two-hundred day simple moving average of $2.85. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10. The firm has a market cap of $180.59 million, a price-to-earnings ratio of -3.95 and a beta of 1.20.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). Equities analysts expect that Rezolute will post -1.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans bought 40,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $4.04 per share, with a total value of $161,600.00. Following the completion of the purchase, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $161,600. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last quarter, insiders acquired 57,124 shares of company stock valued at $220,314. Corporate insiders own 20.80% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Institutional investors and hedge funds have recently made changes to their positions in the business. Vivo Capital LLC increased its stake in shares of Rezolute by 569.4% during the fourth quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after purchasing an additional 2,758,403 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Rezolute by 53.6% during the fourth quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock valued at $10,083,000 after acquiring an additional 3,544,053 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Rezolute during the first quarter valued at approximately $229,000. Vanguard Group Inc. increased its position in shares of Rezolute by 10.4% during the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after acquiring an additional 145,700 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Rezolute during the first quarter valued at approximately $37,000. 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.