Guggenheim Reiterates Buy Rating for Rezolute (NASDAQ:RZLT)

Guggenheim reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a report issued on Monday morning,Benzinga reports.

RZLT has been the topic of several other reports. HC Wainwright reiterated a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research note on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and issued a $112.00 price objective on shares of Rezolute in a research report on Monday, November 4th. Finally, Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research report on Tuesday, February 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, the company currently has an average rating of "Buy" and an average target price of $24.38.

Rezolute Stock Down 0.7 %

Shares of NASDAQ:RZLT traded down $0.04 during midday trading on Monday, reaching $4.83. 299,852 shares of the company traded hands, compared to its average volume of 548,671. The firm's fifty day moving average price is $4.88 and its two-hundred day moving average price is $4.90. The firm has a market capitalization of $279.56 million, a price-to-earnings ratio of -3.80 and a beta of 1.10. Rezolute has a 12 month low of $1.06 and a 12 month high of $6.19.

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 the consensus estimate of ($0.33) by $0.11. Analysts forecast that Rezolute will post -0.99 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Daron Evans bought 10,000 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the purchase, the chief financial officer now directly owns 150,900 shares in the company, valued at $647,361. This represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 18.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RZLT. JPMorgan Chase & Co. bought a new position in shares of Rezolute during the 3rd quarter valued at $42,000. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 9,000 shares during the period. Virtu Financial LLC grew its stake in shares of Rezolute by 58.0% during 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 last quarter. MML Investors Services LLC purchased a new position in shares of Rezolute in the third quarter worth about $57,000. Finally, State Street Corp lifted its stake in shares of 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 acquiring an additional 13,000 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.