Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Recommendation of “Buy” by Brokerages

Rezolute, Inc. (NASDAQ:RZLT) has received an average rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $24.38.

A number of research firms have commented on RZLT. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Thursday, February 13th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Finally, JMP Securities upped their target price 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 Buying and Selling at Rezolute

In related news, Director Wladimir Hogenhuis acquired 10,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 77,267 shares of the company’s stock, valued at approximately $363,154.90. This trade represents a 14.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nevan C. Elam bought 12,302 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average cost of $2.85 per share, for a total transaction of $35,060.70. Following the transaction, the chief executive officer now owns 224,119 shares in the company, valued at approximately $638,739.15. The trade was a 5.81 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 39,060 shares of company stock worth $130,694 over the last 90 days. 18.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Rezolute

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Rezolute during the 3rd quarter valued at about $65,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Rezolute during the third quarter valued at approximately $239,000. State Street Corp raised its holdings in shares of Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after buying an additional 13,000 shares during the period. XTX Topco Ltd boosted its holdings in Rezolute by 67.4% during the 3rd quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock valued at $273,000 after acquiring an additional 22,704 shares during the period. Finally, MML Investors Services LLC bought a new position in Rezolute in the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Trading Down 7.7 %

Shares of NASDAQ:RZLT opened at $2.53 on Monday. The stock has a 50 day moving average of $4.05 and a 200 day moving average of $4.67. The company has a market cap of $153.15 million, a PE ratio of -2.07 and a beta of 0.97. Rezolute has a 12-month low of $2.31 and a 12-month high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Equities research analysts predict that Rezolute will post -0.93 earnings per share 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.