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

Rezolute, Inc. (NASDAQ:RZLT) has been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $10.43.

A number of equities analysts have weighed in on RZLT shares. BTIG Research began coverage on Rezolute in a research note on Wednesday, July 17th. They set a “buy” rating and a $13.00 price objective on the stock. Craig Hallum started coverage on shares of Rezolute in a research report on Tuesday, June 4th. They set a “buy” rating and a $14.00 price target on the stock. Maxim Group upped their price objective on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Tuesday, August 6th.

Rezolute Price Performance

Shares of Rezolute stock opened at $4.30 on Friday. Rezolute has a 1-year low of $0.72 and a 1-year high of $6.10. The stock has a market cap of $172.58 million, a P/E ratio of -3.77 and a beta of 1.20. The stock’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $3.25.

Insider Transactions at Rezolute

In related news, CFO Daron Evans acquired 40,000 shares of Rezolute stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $4.04 per share, for a total transaction of $161,600.00. Following the acquisition, the chief financial officer now owns 40,000 shares in the company, valued at $161,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 49,566 shares of company stock worth $199,974. 20.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Rezolute in the 1st quarter worth approximately $37,000. Jeppson Wealth Management LLC purchased a new stake in Rezolute in the second quarter valued at approximately $45,000. XTX Topco Ltd lifted its stake in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after purchasing an additional 22,660 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Rezolute during the first quarter worth $229,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Rezolute by 366.0% in the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after buying an additional 42,597 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.