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

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has received a consensus recommendation of "Buy" from the eight analysts that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.38.

A number of equities research analysts have weighed in on RZLT shares. 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 reiterated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Thursday, February 13th.

Rezolute Trading Down 0.5 %

Rezolute stock traded down $0.02 during midday trading on Thursday, hitting $3.85. 299,823 shares of the stock were exchanged, compared to its average volume of 452,640. Rezolute has a fifty-two week low of $1.66 and a fifty-two week high of $6.19. The stock has a market capitalization of $233.06 million, a price-to-earnings ratio of -3.16 and a beta of 0.95. The stock's 50-day simple moving average is $4.77 and its 200 day simple moving average is $4.90.

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Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly 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. Equities analysts anticipate that Rezolute will post -0.93 EPS for the current fiscal year.

Insider Activity

In other news, CFO Daron Evans purchased 9,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $4.60 per share, for a total transaction 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. The trade was a 6.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wladimir Hogenhuis purchased 10,000 shares of the firm's stock in a transaction that occurred 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 purchase, the director now directly owns 77,267 shares of the company's stock, valued at $363,154.90. The trade was a 14.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 29,000 shares of company stock valued at $131,300. 18.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Rezolute by 39.0% in the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company's stock worth $2,385,000 after acquiring an additional 137,905 shares during the last quarter. MML Investors Services LLC purchased a new position in Rezolute in the third quarter worth approximately $57,000. JPMorgan Chase & Co. purchased a new position in Rezolute in the third quarter worth approximately $42,000. State Street Corp lifted its position in shares of Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company's stock worth $609,000 after buying an additional 13,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rezolute during the 3rd quarter worth approximately $239,000. Hedge funds and other 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.