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

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has earned an average recommendation of "Buy" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.13.

RZLT has been the topic of several analyst reports. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a report on Friday, November 8th. Wedbush restated an "outperform" rating and issued a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th. Guggenheim initiated coverage on shares of Rezolute in a research note on Tuesday, August 27th. They set a "buy" rating and a $11.00 price objective on the stock. JMP Securities reissued a "market outperform" rating and issued a $7.00 target price on shares of Rezolute in a research report on Friday, September 20th. Finally, BTIG Research increased their price target on shares of Rezolute from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, September 10th.

Rezolute Stock Up 3.8 %

Shares of NASDAQ RZLT traded up $0.16 during trading on Friday, reaching $4.39. 357,180 shares of the stock were exchanged, compared to its average volume of 426,258. The company has a market capitalization of $254.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.01. The business's 50-day moving average price is $5.12 and its 200 day moving average price is $4.78. Rezolute has a twelve month low of $0.86 and a twelve month high of $6.19.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.14). As a group, sell-side analysts expect that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daron Evans bought 10,000 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 150,900 shares of the company's stock, valued at $647,361. This represents a 7.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired a total of 23,259 shares of company stock worth $104,317 over the last quarter. 18.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rezolute

Several institutional investors have recently modified their holdings of RZLT. Jeppson Wealth Management LLC bought a new position in Rezolute in the 2nd quarter worth about $45,000. Acadian Asset Management LLC boosted its position in shares of Rezolute by 104.2% during the second quarter. Acadian Asset Management LLC now owns 184,502 shares of the company's stock worth $792,000 after buying an additional 94,156 shares during the period. Federated Hermes Inc. grew its holdings in Rezolute by 11.1% in the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company's stock worth $48,501,000 after buying an additional 1,125,000 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Rezolute in the 2nd quarter valued at approximately $255,000. Finally, XTX Topco Ltd increased its position in Rezolute by 205.8% in the 2nd quarter. XTX Topco Ltd now owns 33,671 shares of the company's stock valued at $145,000 after acquiring an additional 22,660 shares during the period. 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.