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

Rezolute, Inc. (NASDAQ:RZLT) has been assigned an average rating of “Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $24.13.

RZLT has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a report on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Friday, November 8th. Finally, Wedbush reissued an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in shares of Rezolute during the 3rd quarter worth approximately $42,000. MML Investors Services LLC purchased a new position in Rezolute during the third quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rezolute during the third quarter worth $65,000. Virtu Financial LLC grew its holdings in Rezolute by 58.0% in the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after buying an additional 9,551 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Rezolute by 205.8% in the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock valued at $145,000 after buying an additional 22,660 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Performance

Shares of Rezolute stock opened at $4.72 on Wednesday. The firm has a 50-day simple moving average of $5.00 and a two-hundred day simple moving average of $4.83. Rezolute has a fifty-two week low of $0.90 and a fifty-two week high of $6.19. The company has a market cap of $273.49 million, a P/E ratio of -3.72 and a beta of 1.08.

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.