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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.38.

RZLT has been the topic of a number of research analyst reports. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research report on Thursday, February 13th. Finally, JMP Securities raised their price target on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans acquired 9,000 shares of Rezolute stock in a transaction dated Thursday, December 12th. The stock was bought at an average cost of $4.60 per share, with a total value of $41,400.00. Following the acquisition, the chief financial officer now owns 140,900 shares of the company’s stock, valued at approximately $648,140. The trade was a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wladimir Hogenhuis purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 77,267 shares in the company, valued at $363,154.90. The trade was a 14.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 29,000 shares of company stock valued at $131,300. Company insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Several institutional investors have recently added to or reduced their stakes in RZLT. JPMorgan Chase & Co. bought a new position in Rezolute during the 3rd quarter valued at about $42,000. Alpine Global Management LLC bought a new position in Rezolute during the 4th quarter valued at about $54,000. MML Investors Services LLC bought a new position in Rezolute during the 3rd quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rezolute during the 3rd quarter valued at about $65,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rezolute by 65.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after purchasing an additional 9,000 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Rezolute Trading Down 1.0 %

NASDAQ:RZLT opened at $3.98 on Thursday. Rezolute has a 1 year low of $1.66 and a 1 year high of $6.19. The firm’s fifty day simple moving average is $4.82 and its 200 day simple moving average is $4.90. The firm has a market capitalization of $240.93 million, a PE ratio of -3.26 and a beta of 0.95.

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

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.