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

Rezolute, Inc. (NASDAQ:RZLT) has received an average rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.6667.

RZLT has been the topic of a number of recent research reports. Citigroup cut Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Wedbush increased their price objective on shares of Rezolute to $2.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Citizens Jmp lowered shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Maxim Group set a $4.00 price target on shares of Rezolute in a report on Friday, December 12th.

Insiders Place Their Bets

In other Rezolute news, CEO Nevan C. Elam bought 32,000 shares of Rezolute stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $1.59 per share, with a total value of $50,880.00. Following the acquisition, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. This trade represents a 5.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daron Evans purchased 40,000 shares of the stock in a transaction dated Monday, December 15th. The shares were acquired at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the completion of the acquisition, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This represents a 10.64% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 89,100 shares of company stock valued at $150,232. Corporate insiders own 14.78% of the company’s stock.

Institutional Trading of Rezolute

A number of large investors have recently made changes to their positions in RZLT. BNP Paribas Financial Markets bought a new position in Rezolute during the second quarter valued at approximately $25,000. HB Wealth Management LLC purchased a new stake in Rezolute during the 4th quarter valued at $26,000. Fifth Third Wealth Advisors LLC purchased a new stake in Rezolute during the 4th quarter valued at $29,000. Ameritas Investment Partners Inc. purchased a new position in shares of Rezolute in the 2nd quarter worth $30,000. Finally, Legal & General Group Plc bought a new stake in shares of Rezolute in the second quarter worth $32,000. 82.97% of the stock is currently owned by institutional investors.

Rezolute Price Performance

NASDAQ:RZLT opened at $3.34 on Friday. The firm’s 50-day moving average price is $4.40 and its 200-day moving average price is $6.69. The company has a market capitalization of $309.72 million, a PE ratio of -3.59 and a beta of 0.39. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. Equities analysts anticipate that Rezolute will post -0.93 EPS 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.