Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Rating of "Buy" from Analysts

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has earned a consensus recommendation of "Buy" from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $24.13.

Several research analysts recently commented on RZLT shares. HC Wainwright reiterated a "buy" rating and issued a $14.00 target price on shares of Rezolute in a report on Friday, November 8th. JMP Securities reiterated a "market outperform" rating and issued a $7.00 target price on shares of Rezolute in a report on Friday, September 20th. Finally, Wedbush reiterated an "outperform" rating and issued a $112.00 target price on shares of Rezolute in a report on Monday, November 4th.

Insiders Place Their Bets

In related news, CFO Daron Evans purchased 9,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $4.60 per share, with a total value of $41,400.00. Following the completion of the purchase, the chief financial officer now directly owns 140,900 shares of the company's stock, valued at $648,140. This trade represents a 6.82 % 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 hyperlink. Insiders own 18.39% of the company's stock.

Institutional Trading of Rezolute

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of Rezolute during the third quarter valued at approximately $42,000. MML Investors Services LLC bought a new stake in shares of Rezolute during the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rezolute in the third quarter valued at approximately $65,000. Virtu Financial LLC lifted its holdings in Rezolute by 58.0% in the third 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 period. Finally, XTX Topco Ltd lifted its holdings in Rezolute by 205.8% in the second quarter. XTX Topco Ltd now owns 33,671 shares of the company's stock valued at $145,000 after buying an additional 22,660 shares during the period. 82.97% of the stock is owned by institutional investors.

Rezolute Stock Performance

Shares of Rezolute stock traded up $0.02 during midday trading on Wednesday, reaching $4.74. 48,102 shares of the company's stock traded hands, compared to its average volume of 394,034. The company has a market cap of $274.65 million, a price-to-earnings ratio of -3.73 and a beta of 1.08. The company's 50 day simple moving average is $5.00 and its 200 day simple moving average is $4.83. Rezolute has a 52 week low of $0.90 and a 52 week high of $6.19.

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.