HC Wainwright Reaffirms Buy Rating for Rezolute (NASDAQ:RZLT)

HC Wainwright reiterated their buy rating on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

Separately, Wedbush reiterated an "outperform" rating and issued a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $24.13.

Rezolute Stock Performance

Shares of NASDAQ:RZLT traded down $0.19 on Wednesday, hitting $4.91. 366,467 shares of the company's stock were exchanged, compared to its average volume of 606,312. Rezolute has a 1-year low of $0.98 and a 1-year high of $6.19. The company has a market capitalization of $284.49 million, a PE ratio of -3.87 and a beta of 1.10. The firm's 50-day moving average is $4.90 and its 200 day moving average is $4.89.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.13. On average, analysts anticipate that Rezolute will post -0.99 EPS for the current fiscal year.

Insider Transactions at Rezolute

In related news, CFO Daron Evans acquired 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 18.39% of the company's stock.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new position in shares of Rezolute during the 3rd quarter worth approximately $42,000. Charles Schwab Investment Management Inc. raised its stake in Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock valued at $112,000 after purchasing an additional 9,000 shares during the last quarter. Virtu Financial LLC lifted its holdings in Rezolute by 58.0% in the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company's stock valued at $126,000 after purchasing an additional 9,551 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Rezolute during the 3rd quarter worth about $57,000. Finally, State Street Corp grew its holdings in shares of Rezolute by 11.6% during the third quarter. State Street Corp now owns 125,472 shares of the company's stock worth $609,000 after buying an additional 13,000 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.