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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $12.14.

Several research firms have issued reports on RZLT. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. JMP Securities lifted their price target on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Monday, April 28th.

Insider Transactions at Rezolute

In related news, CFO Daron Evans bought 10,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of $2.89 per share, for a total transaction of $28,900.00. Following the completion of the acquisition, the chief financial officer now owns 237,900 shares in the company, valued at $687,531. This trade represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nevan C. Elam bought 12,302 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $2.85 per share, with a total value of $35,060.70. Following the completion of the acquisition, the chief executive officer now owns 224,119 shares of the company’s stock, valued at $638,739.15. This trade represents a 5.81% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 29,060 shares of company stock worth $83,694. Company insiders own 18.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Rezolute during the third quarter worth about $42,000. Charles Schwab Investment Management Inc. grew its position in Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after buying an additional 9,000 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Rezolute by 62.1% during the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock valued at $316,000 after purchasing an additional 24,742 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Rezolute by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock valued at $2,535,000 after purchasing an additional 25,413 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of Rezolute during the 4th quarter valued at about $277,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Stock Up 6.4%

Shares of RZLT stock opened at $3.80 on Tuesday. The stock has a market cap of $230.03 million, a P/E ratio of -3.11 and a beta of 1.01. Rezolute has a 52 week low of $2.22 and a 52 week high of $6.19. The company’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $4.28.

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

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.