Craig Hallum Upgrades Rezolute (NASDAQ:RZLT) to “Strong-Buy”

Rezolute (NASDAQ:RZLT) was upgraded by investment analysts at Craig Hallum to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.13.

Rezolute Trading Up 1.3 %

Shares of RZLT stock opened at $5.57 on Tuesday. The stock has a market cap of $322.73 million, a price-to-earnings ratio of -4.39 and a beta of 1.10. The stock has a 50-day moving average of $4.89 and a 200-day moving average of $4.88. Rezolute has a 1-year low of $0.93 and a 1-year high of $6.19.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.13. Sell-side analysts forecast that Rezolute will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 150,900 shares in the company, valued at $647,361. The trade was a 7.10 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 18.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rezolute

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in shares of Rezolute during the third quarter valued at approximately $42,000. MML Investors Services LLC bought a new stake in shares of Rezolute during the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rezolute during the third quarter valued at approximately $65,000. Virtu Financial LLC increased its holdings in shares of Rezolute by 58.0% during the third 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 in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after buying an additional 42,597 shares in the last quarter. Institutional investors 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.