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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received an average recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $24.13.

A number of research firms recently issued reports on RZLT. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Friday, November 8th. Wedbush reissued an “outperform” rating and set a $112.00 price objective on shares of Rezolute in a research report on Monday, November 4th.

Rezolute Price Performance

NASDAQ RZLT opened at $4.92 on Wednesday. The company has a market cap of $285.08 million, a P/E ratio of -3.87 and a beta of 1.08. Rezolute has a 1-year low of $0.92 and a 1-year high of $6.19. The stock has a 50-day moving average of $4.93 and a two-hundred day moving average of $4.84.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. On average, analysts anticipate that Rezolute will post -0.99 EPS for the current fiscal year.

Insider Activity at Rezolute

In related news, CFO Daron Evans purchased 9,000 shares of Rezolute stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $4.60 per share, with a total value of $41,400.00. Following the completion of the transaction, the chief financial officer now directly owns 140,900 shares in the company, valued at approximately $648,140. The trade was a 6.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in Rezolute during the 3rd quarter worth approximately $42,000. MML Investors Services LLC acquired a new stake in shares of Rezolute in the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute during the third quarter worth approximately $65,000. Virtu Financial LLC increased its holdings in shares of 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 acquiring an additional 9,551 shares during the period. Finally, XTX Topco Ltd raised its position 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 purchasing an additional 22,660 shares during the last quarter. Institutional investors and hedge funds 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.