Rezolute (NASDAQ:RZLT) Rating Increased to Strong-Buy at Craig Hallum

Rezolute (NASDAQ:RZLT) was upgraded by investment analysts at Craig Hallum to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on RZLT. Wedbush reiterated an “outperform” rating and set a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $24.13.

Rezolute Price Performance

Shares of Rezolute stock opened at $5.57 on Tuesday. Rezolute has a 1-year low of $0.93 and a 1-year high of $6.19. The company has a market capitalization of $322.73 million, a P/E ratio of -4.39 and a beta of 1.10. The business’s fifty day moving average price is $4.89 and its two-hundred day moving average price is $4.88.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. On average, research analysts expect that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans bought 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, 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 document filed with the SEC, which can be accessed through this hyperlink. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Several hedge funds have recently bought and sold shares of RZLT. JPMorgan Chase & Co. acquired a new position in shares of Rezolute in the 3rd quarter valued at about $42,000. Exome Asset Management LLC increased its stake in Rezolute by 24.7% in the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after buying an additional 69,656 shares during the period. Virtu Financial LLC lifted its position in Rezolute by 58.0% in the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares in the last quarter. Geode Capital Management LLC lifted its position in Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after buying an additional 137,905 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Rezolute during the 3rd quarter valued at $57,000. 82.97% of the stock is owned by hedge funds and other 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.