Rezolute (NASDAQ:RZLT) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research note published on Monday, Benzinga reports. HC Wainwright currently has a $14.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research assumed coverage on shares of Rezolute in a report on Wednesday, July 17th. They issued a buy rating and a $13.00 target price on the stock. Maxim Group lifted their price objective on Rezolute from $8.00 to $10.00 and gave the stock a buy rating in a report on Tuesday, August 6th. Craig Hallum assumed coverage on Rezolute in a research report on Tuesday, June 4th. They set a buy rating and a $14.00 price objective for the company. Finally, Guggenheim initiated coverage on Rezolute in a research note on Tuesday, August 27th. They set a buy rating and a $11.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $10.75.

Rezolute Stock Performance

RZLT opened at $5.14 on Monday. The company’s 50-day simple moving average is $4.51 and its two-hundred day simple moving average is $3.57. Rezolute has a 52-week low of $0.72 and a 52-week high of $6.10. The stock has a market capitalization of $284.55 million, a P/E ratio of -4.51 and a beta of 1.18.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $4.04 per share, for a total transaction of $161,600.00. Following the purchase, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at approximately $161,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 49,115 shares of company stock valued at $198,395 over the last 90 days. Company insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jeppson Wealth Management LLC bought a new stake in Rezolute in the second quarter worth $45,000. Virtu Financial LLC purchased a new position in Rezolute in the first quarter worth about $37,000. XTX Topco Ltd increased 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 acquiring an additional 22,660 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after purchasing an additional 42,597 shares during the period. Finally, Rosalind Advisors Inc. lifted its stake in shares of Rezolute by 25.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock valued at $1,075,000 after purchasing an additional 50,000 shares during the last quarter. 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.