Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Rating of “Buy” by Brokerages

Rezolute, Inc. (NASDAQ:RZLT) has received an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $24.38.

RZLT has been the subject of a number of analyst reports. JMP Securities lifted their price target on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th.

Insider Activity at Rezolute

In related news, CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was acquired at an average price of $2.89 per share, with a total value of $28,900.00. Following the purchase, the chief financial officer now directly owns 237,900 shares in the company, valued at approximately $687,531. This trade represents a 4.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 18.39% of the stock is currently owned by insiders.

Institutional Trading of Rezolute

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC boosted its holdings in shares of Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock valued at $14,004,000 after acquiring an additional 280,861 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Rezolute by 699.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock valued at $12,377,000 after purchasing an additional 2,210,038 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Rezolute by 2,817.1% during the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock worth $5,338,000 after purchasing an additional 1,052,002 shares during the last quarter. Susquehanna International Group LLP increased its stake in shares of Rezolute by 749.0% in the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after buying an additional 788,349 shares during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rezolute by 19.8% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,223 shares of the company’s stock valued at $2,578,000 after buying an additional 86,990 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

Rezolute Price Performance

RZLT stock opened at $2.93 on Monday. Rezolute has a fifty-two week low of $2.22 and a fifty-two week high of $6.19. The stock has a market capitalization of $177.37 million, a price-to-earnings ratio of -2.40 and a beta of 0.95. The business’s fifty day moving average price is $4.26 and its two-hundred day moving average price is $4.75.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Research analysts expect that Rezolute will post -0.93 EPS for the current 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.