Rezolute (NASDAQ:RZLT) Earns Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a report released on Monday,Benzinga reports.

Several other research analysts have also recently issued reports on the company. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Wedbush restated an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a research report on Monday, November 4th. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research report on Wednesday, February 5th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rezolute currently has a consensus rating of “Buy” and a consensus price target of $24.13.

Rezolute Stock Performance

NASDAQ:RZLT opened at $4.86 on Monday. The stock has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $4.90. The stock has a market capitalization of $281.59 million, a price-to-earnings ratio of -3.83 and a beta of 1.10. Rezolute has a 1 year low of $1.05 and a 1 year high of $6.19.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, analysts predict that Rezolute will post -0.99 EPS for the current year.

Insider Activity

In related news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $4.60 per share, with a total value of $41,400.00. Following the completion of the purchase, the chief financial officer now directly owns 140,900 shares in the company, valued at approximately $648,140. The trade was a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in shares of Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares during the last quarter. MML Investors Services LLC purchased a new stake in Rezolute during the third quarter valued at about $57,000. JPMorgan Chase & Co. purchased a new stake in Rezolute during the third quarter valued at about $42,000. State Street Corp grew its position in Rezolute by 11.6% during the third 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 period. Finally, Cubist Systematic Strategies LLC grew its position in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after acquiring an additional 42,597 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.