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

Rezolute (NASDAQ:RZLTGet Rating)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Monday, TipRanks reports. They currently have a $21.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Roth Capital increased their price target on Rezolute from $23.00 to $25.00 in a report on Wednesday, March 23rd. Zacks Investment Research upgraded Rezolute from a “hold” rating to a “buy” rating and set a $4.00 target price on the stock in a research note on Wednesday, April 13th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.33.

Rezolute stock traded down $0.04 during midday trading on Monday, reaching $3.41. The stock had a trading volume of 512 shares, compared to its average volume of 156,521. The company has a quick ratio of 12.12, a current ratio of 12.12 and a debt-to-equity ratio of 0.23. The firm has a market cap of $53.05 million, a price-to-earnings ratio of -1.08 and a beta of 3.27. Rezolute has a 52-week low of $2.26 and a 52-week high of $17.39. The company has a fifty day moving average of $3.43 and a 200 day moving average of $4.29.

In other Rezolute news, SVP Brian Kenneth Roberts bought 21,052 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were acquired at an average price of $3.80 per share, with a total value of $79,997.60. Following the transaction, the senior vice president now owns 21,052 shares of the company’s stock, valued at approximately $79,997.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gil M. Labrucherie purchased 52,631 shares of the stock in a transaction dated Wednesday, May 4th. The stock was acquired at an average cost of $3.80 per share, with a total value of $199,997.80. Following the transaction, the director now directly owns 52,631 shares in the company, valued at approximately $199,997.80. The disclosure for this purchase can be found here. Insiders own 28.10% of the company’s stock.

Several large investors have recently made changes to their positions in RZLT. Oppenheimer & Co. Inc. bought a new position in shares of Rezolute in the 3rd quarter worth $92,000. Citadel Advisors LLC boosted its holdings in shares of Rezolute by 0.6% in the 3rd quarter. Citadel Advisors LLC now owns 309,986 shares of the company’s stock valued at $2,300,000 after buying an additional 1,998 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Rezolute in the 3rd quarter valued at about $265,000. UBS Group AG boosted its holdings in shares of Rezolute by 299.9% in the 3rd quarter. UBS Group AG now owns 3,671 shares of the company’s stock valued at $27,000 after buying an additional 2,753 shares in the last quarter. Finally, Altium Capital Management LP bought a new position in shares of Rezolute during the 3rd quarter worth approximately $1,553,000. Institutional investors and hedge funds own 48.42% of the company’s stock.

Rezolute Company Profile (Get Rating)

Rezolute, Inc, a clinical stage biopharmaceutical company, develops transformative 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.

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