Rezolute’s (RZLT) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Rezolute (NASDAQ:RZLT) in a report released on Wednesday,RTT News reports. They currently have a $12.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Monday, April 28th. Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. Finally, JMP Securities lifted their target price on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.14.

Rezolute Stock Performance

RZLT stock opened at $3.49 on Wednesday. The firm has a market cap of $211.27 million, a P/E ratio of -2.86 and a beta of 1.01. Rezolute has a 1 year low of $2.22 and a 1 year high of $6.19. The stock has a 50-day simple moving average of $3.24 and a 200-day simple moving average of $4.34.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). On average, equities research analysts predict that Rezolute will post -0.93 EPS for the current year.

Insider Activity

In other Rezolute news, Director Wladimir Hogenhuis acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now directly owns 77,267 shares in the company, valued at $363,154.90. This trade represents a 14.87% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nevan C. Elam bought 12,302 shares of the stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $2.85 per share, with a total value of $35,060.70. Following the purchase, the chief executive officer now owns 224,119 shares of the company’s stock, valued at $638,739.15. The trade was a 5.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 39,060 shares of company stock worth $130,694. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. bought a new position in shares of Rezolute during the third quarter valued at approximately $42,000. Charles Schwab Investment Management Inc. boosted its position in Rezolute by 65.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after purchasing an additional 9,000 shares during the period. American Century Companies Inc. boosted its position in Rezolute by 62.1% during the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock valued at $316,000 after purchasing an additional 24,742 shares during the period. Geode Capital Management LLC grew its stake in Rezolute by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock worth $2,535,000 after buying an additional 25,413 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Rezolute in the fourth quarter worth $277,000. Institutional investors own 82.97% of the company’s stock.

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.