Brokerages Set Rezolute, Inc. (NASDAQ:RZLT) PT at $9.38

Rezolute, Inc. (NASDAQ:RZLT) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.3750.

RZLT has been the topic of a number of recent research reports. Citizens Jmp upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research note on Wednesday, June 3rd. Citigroup raised shares of Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 3rd. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Guggenheim upped their target price on shares of Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, BTIG Research increased their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd.

Rezolute Trading Down 2.8%

RZLT opened at $3.84 on Friday. The stock has a market cap of $369.75 million, a PE ratio of -4.68 and a beta of 0.60. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The stock’s 50 day simple moving average is $4.65 and its 200-day simple moving average is $3.99.

Institutional Investors Weigh In On Rezolute

Large investors have recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in Rezolute during the 1st quarter valued at $10,489,000. Siren L.L.C. acquired a new position in Rezolute during the 1st quarter worth $10,151,000. Dimensional Fund Advisors LP boosted its position in Rezolute by 273.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock valued at $1,617,000 after buying an additional 388,346 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Rezolute in the 2nd quarter valued at $1,104,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Rezolute in the 4th quarter valued at $494,000. Institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for rare and metabolic diseases. The company’s research is centered on therapies that address abnormal insulin activity and other conditions involving disrupted glucose regulation.

Rezolute’s leading product candidate is RZ358, an investigational monoclonal antibody designed to reduce the effects of excessive insulin. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas produces too much insulin and causes potentially severe, recurrent hypoglycemia.