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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.67.

RZLT has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a research report on Thursday, April 18th. Craig Hallum started coverage on Rezolute in a research note on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Wednesday, May 22nd. Maxim Group started coverage on shares of Rezolute in a research report on Tuesday, April 9th. They set a “buy” rating and a $8.00 price target for the company. Finally, Jonestrading began coverage on shares of Rezolute in a research note on Thursday, April 18th. They set a “buy” rating and a $10.00 price objective for the company.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans acquired 40,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $4.04 per share, with a total value of $161,600.00. Following the purchase, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $161,600. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders purchased 57,124 shares of company stock valued at $220,314. 20.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rezolute

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Rezolute in the 1st quarter valued at about $37,000. Acadian Asset Management LLC purchased a new position in shares of Rezolute during the 1st quarter valued at approximately $229,000. Vanguard Group Inc. increased its holdings in Rezolute by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after acquiring an additional 145,700 shares in the last quarter. Rosalind Advisors Inc. acquired a new position in Rezolute during the first quarter worth $510,000. Finally, Affinity Asset Advisors LLC purchased a new position in Rezolute during the first quarter valued at $4,080,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $4.17 on Friday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The company has a market cap of $167.34 million, a PE ratio of -3.66 and a beta of 1.20. The business has a 50-day simple moving average of $3.73 and a two-hundred day simple moving average of $2.37.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, sell-side analysts predict that Rezolute will post -1.15 earnings per share for the current fiscal year.

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.