Rezolute (NASDAQ:RZLT) Raised to “Strong-Buy” at Craig Hallum

Rezolute (NASDAQ:RZLT) was upgraded by equities research analysts at Craig Hallum to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

RZLT has been the topic of a number of other research reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Wednesday. Wedbush reissued an “outperform” rating and set a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rezolute currently has an average rating of “Buy” and a consensus target price of $24.13.

Rezolute Stock Performance

NASDAQ RZLT opened at $5.57 on Tuesday. The stock has a market capitalization of $322.73 million, a price-to-earnings ratio of -4.39 and a beta of 1.10. The stock’s 50 day moving average price is $4.89 and its two-hundred day moving average price is $4.88. Rezolute has a 52 week low of $0.93 and a 52 week high of $6.19.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.13. On average, equities research analysts forecast that Rezolute will post -0.99 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were purchased 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 directly owns 140,900 shares in the company, valued at $648,140. This represents a 6.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 18.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Rezolute during the 3rd quarter worth $42,000. MML Investors Services LLC bought a new stake in shares of Rezolute during the 3rd quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rezolute during the 3rd quarter worth $65,000. Virtu Financial LLC lifted its position in shares of Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Rezolute by 366.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after buying an additional 42,597 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.