Rezolute (NASDAQ:RZLT) Earns Outperform Rating from Wedbush

Rezolute (NASDAQ:RZLT)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $12.00 target price on the stock. Wedbush’s price objective points to a potential upside of 237.08% from the company’s previous close.

RZLT has been the subject of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. JMP Securities upped their price target on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Finally, Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.14.

Rezolute Price Performance

RZLT opened at $3.56 on Wednesday. The company has a 50 day simple moving average of $3.24 and a two-hundred day simple moving average of $4.32. The firm has a market cap of $215.50 million, a P/E ratio of -2.92 and a beta of 1.01. Rezolute has a 1-year low of $2.22 and a 1-year high of $6.19.

Rezolute (NASDAQ:RZLT) last released its earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Equities analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Insider Activity at Rezolute

In other Rezolute news, Director Wladimir Hogenhuis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the purchase, the director now directly owns 77,267 shares in the company, valued at $363,154.90. This trade represents a 14.87% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nevan C. Elam acquired 12,302 shares of the stock in a transaction on Thursday, March 27th. The shares were acquired at an average price of $2.85 per share, with a total value of $35,060.70. Following the transaction, the chief executive officer now directly owns 224,119 shares of the company’s stock, valued at $638,739.15. The trade was a 5.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 39,060 shares of company stock valued at $130,694. Insiders own 18.39% of the company’s stock.

Institutional Investors Weigh In On Rezolute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in shares of Rezolute by 5.2% during the first quarter. American Century Companies Inc. now owns 67,925 shares of the company’s stock valued at $197,000 after buying an additional 3,334 shares during the last quarter. Pale Fire Capital SE raised its holdings in shares of Rezolute by 9.1% in the first quarter. Pale Fire Capital SE now owns 47,122 shares of the company’s stock valued at $137,000 after acquiring an additional 3,935 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Rezolute by 48.5% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company’s stock worth $97,000 after purchasing an additional 6,470 shares during the period. JPMorgan Chase & Co. bought a new stake in Rezolute during the 3rd quarter valued at $42,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Rezolute by 65.4% during the fourth 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 in the last quarter. 82.97% of the stock is currently 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.