Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Buy” from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.38.

A number of equities analysts have weighed in on the stock. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Thursday, February 13th. JMP Securities lifted their price target 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. Finally, Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th.

Rezolute Trading Down 1.0 %

Shares of NASDAQ RZLT opened at $3.98 on Thursday. Rezolute has a 1-year low of $1.66 and a 1-year high of $6.19. The company has a market cap of $240.93 million, a PE ratio of -3.26 and a beta of 0.95. The company has a 50-day moving average of $4.82 and a two-hundred day moving average of $4.90.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. As a group, equities research analysts forecast that Rezolute will post -0.93 earnings per share for the current year.

Insider Activity at Rezolute

In other news, CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 29,000 shares of company stock worth $131,300. 18.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Rezolute during the third quarter valued at approximately $42,000. Alpine Global Management LLC acquired a new position in shares of Rezolute in the fourth quarter valued at approximately $54,000. MML Investors Services LLC acquired a new position in shares of Rezolute in the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rezolute in the third quarter valued at approximately $65,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after buying an additional 9,000 shares during the period. 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.