Rezolute (NASDAQ:RZLT) Raised to Strong-Buy at Craig Hallum

Rezolute (NASDAQ:RZLT - Get Free Report) was upgraded by equities researchers at Craig Hallum to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

RZLT has been the topic of several other reports. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday. Wedbush reissued an "outperform" rating and set a $112.00 target price on shares of Rezolute in a research note on Monday, November 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rezolute has a consensus rating of "Buy" and an average target price of $24.13.

Rezolute Trading Down 3.7 %

NASDAQ:RZLT traded down $0.19 on Tuesday, hitting $4.91. The company had a trading volume of 366,467 shares, compared to its average volume of 606,312. Rezolute has a 52 week low of $0.98 and a 52 week high of $6.19. The stock has a market capitalization of $284.49 million, a price-to-earnings ratio of -3.87 and a beta of 1.10. The firm has a 50 day moving average of $4.90 and a two-hundred day moving average of $4.89.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. As a group, equities analysts forecast that Rezolute will post -0.99 EPS for the current year.

Insider Buying and Selling at Rezolute

In related news, CFO Daron Evans bought 10,000 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the transaction, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. The trade was a 7.10 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 18.39% of the company's stock.

Hedge Funds Weigh In On Rezolute

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in Rezolute in the 3rd quarter worth about $42,000. Charles Schwab Investment Management Inc. grew its stake in Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock valued at $112,000 after acquiring an additional 9,000 shares in the last quarter. Virtu Financial LLC increased its holdings in Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company's stock worth $126,000 after acquiring an additional 9,551 shares during the period. MML Investors Services LLC purchased a new stake in Rezolute in the 3rd quarter worth approximately $57,000. Finally, State Street Corp boosted its holdings in Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company's stock valued at $609,000 after purchasing an additional 13,000 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.