Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Buy” by the eight ratings firms that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.13.

RZLT has been the topic of several analyst reports. BTIG Research raised their price target on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and set a $112.00 target price on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Friday, November 8th. Guggenheim assumed coverage on Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of Rezolute in a report on Friday, September 20th.

Rezolute Stock Performance

RZLT stock opened at $4.39 on Friday. Rezolute has a 1 year low of $0.86 and a 1 year high of $6.19. The stock has a market capitalization of $254.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.01. The stock’s fifty day moving average is $5.12 and its two-hundred day moving average is $4.78.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). As a group, analysts predict that Rezolute will post -0.99 EPS for the current fiscal year.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans bought 10,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at $647,361. This trade 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 link. Insiders bought 23,259 shares of company stock valued at $104,317 over the last 90 days. 18.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jeppson Wealth Management LLC bought a new stake in shares of Rezolute during the 2nd quarter worth $45,000. MML Investors Services LLC acquired a new position in shares of Rezolute in the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rezolute during the 3rd quarter worth about $65,000. Virtu Financial LLC lifted its stake in 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 in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Rezolute by 205.8% in the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after buying an additional 22,660 shares during the period. 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.