Rezolute (NASDAQ:RZLT) Receives "Buy" Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research note issued to investors on Thursday,Benzinga reports. HC Wainwright currently has a $14.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on RZLT. Craig Hallum raised Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Wedbush reaffirmed an "outperform" rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. JMP Securities raised their price target on Rezolute from $8.00 to $9.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, Guggenheim reaffirmed a "buy" rating on shares of Rezolute in a report on Monday, February 10th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $24.38.

Rezolute Price Performance

Shares of Rezolute stock traded down $0.20 during midday trading on Thursday, hitting $4.61. 357,547 shares of the company were exchanged, compared to its average volume of 606,312. The firm has a market cap of $267.10 million, a P/E ratio of -3.63 and a beta of 1.10. Rezolute has a 52 week low of $1.13 and a 52 week high of $6.19. The firm has a 50 day simple moving average of $4.86 and a 200-day simple moving average of $4.90.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. Equities research analysts expect that Rezolute will post -0.99 earnings per share for the current year.

Insider Transactions at Rezolute

In related news, CFO Daron Evans purchased 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the transaction, the chief financial officer now directly owns 150,900 shares of the company's stock, valued at approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RZLT. JPMorgan Chase & Co. bought a new position in shares of Rezolute in the 3rd quarter worth $42,000. Alpine Global Management LLC bought a new position in Rezolute during the fourth quarter worth about $54,000. MML Investors Services LLC bought a new position in Rezolute during the third quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rezolute during the third quarter worth about $65,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock worth $112,000 after acquiring an additional 9,000 shares in the last quarter. 82.97% of the stock is currently owned by 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.