Rezolute (NASDAQ:RZLT) Given Market Outperform Rating at JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a report released on Thursday, Benzinga reports. They currently have a $7.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 112.12% from the company’s previous close.

A number of other analysts have also recently commented on RZLT. Maxim Group started 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. Jonestrading started coverage on shares of Rezolute in a report on Thursday. They set a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a report on Thursday, March 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.80.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.06 during midday trading on Thursday, hitting $3.30. 182,829 shares of the company traded hands, compared to its average volume of 301,538. Rezolute has a 12-month low of $0.72 and a 12-month high of $3.63. The stock has a 50-day moving average price of $1.96 and a 200 day moving average price of $1.30. The firm has a market cap of $132.43 million, a P/E ratio of -2.99 and a beta of 1.29.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). As a group, equities analysts expect that Rezolute will post -1.06 earnings per share for the current year.

Insider Transactions at Rezolute

In other news, CFO Daron Evans acquired 20,000 shares of Rezolute stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $1.69 per share, with a total value of $33,800.00. Following the completion of the purchase, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $33,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Young-Jin Kim bought 36,503 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the transaction, the director now owns 115,450 shares in the company, valued at $220,509.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daron Evans bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $1.69 per share, with a total value of $33,800.00. Following the transaction, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $33,800. The disclosure for this purchase can be found here. Insiders bought a total of 179,403 shares of company stock valued at $306,601 over the last three months. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently modified their holdings of RZLT. Vanguard Group Inc. boosted its position in shares of Rezolute by 3.2% during the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock worth $1,162,000 after acquiring an additional 10,500 shares during the last quarter. State Street Corp bought a new position in shares of Rezolute during the first quarter worth $69,000. Worth Venture Partners LLC boosted its position in shares of Rezolute by 72.5% during the first quarter. Worth Venture Partners LLC now owns 104,709 shares of the company’s stock worth $354,000 after acquiring an additional 43,991 shares during the last quarter. Northern Trust Corp lifted its position in Rezolute by 65.2% during the second quarter. Northern Trust Corp now owns 85,097 shares of the company’s stock valued at $274,000 after purchasing an additional 33,581 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Rezolute during the second quarter valued at $58,000. Institutional investors own 82.97% of the company’s stock.

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.