Rezolute, Inc. (NASDAQ:RZLT) Given Average Rating of "Buy" by Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) have received an average rating of "Buy" from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $24.38.

A number of research firms have recently weighed in on RZLT. Guggenheim reaffirmed a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. 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 report on Thursday, February 13th. Craig Hallum raised shares of Rezolute to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research note on Thursday, February 13th.

Rezolute Stock Down 7.1 %

RZLT traded down $0.20 during mid-day trading on Monday, reaching $2.55. 122,869 shares of the company traded hands, compared to its average volume of 491,131. The company's fifty day moving average price is $4.10 and its 200-day moving average price is $4.69. The stock has a market capitalization of $154.06 million, a P/E ratio of -2.09 and a beta of 0.97. Rezolute has a 52-week low of $2.22 and a 52-week high of $6.19.

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Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. As a group, sell-side analysts forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Rezolute

Large investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute in the 3rd quarter valued at $65,000. Jacobs Levy Equity Management Inc. purchased a new position in Rezolute in the third quarter valued at about $239,000. State Street Corp raised its holdings in Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company's stock worth $609,000 after purchasing an additional 13,000 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Rezolute by 67.4% in the 3rd quarter. XTX Topco Ltd now owns 56,375 shares of the company's stock valued at $273,000 after buying an additional 22,704 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in shares of Rezolute in the 3rd quarter worth approximately $57,000. 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.