Rezolute (NASDAQ:RZLT) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 price target on the stock.

Separately, Wedbush reiterated an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Buy” and an average price target of $24.13.

Rezolute Stock Up 1.3 %

Shares of NASDAQ RZLT opened at $5.57 on Wednesday. The company has a market capitalization of $322.73 million, a PE ratio of -4.39 and a beta of 1.10. The firm has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $4.88. Rezolute has a twelve month low of $0.93 and a twelve month high of $6.19.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data 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. As a group, equities analysts expect that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost 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 of the company’s stock, valued at $647,361. This represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new stake in Rezolute during the 3rd quarter worth approximately $42,000. MML Investors Services LLC bought a new stake in Rezolute during the third quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rezolute during the third quarter worth $65,000. Virtu Financial LLC raised its position in 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 buying an additional 9,551 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Rezolute by 366.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after acquiring an additional 42,597 shares in 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.