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

Rezolute, Inc. (NASDAQ:RZLT) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.6250.

RZLT has been the topic of several recent research reports. BTIG Research reiterated a “buy” rating and issued a $5.00 price target on shares of Rezolute in a research report on Thursday, January 8th. Maxim Group set a $4.00 price objective on Rezolute in a research note on Friday, December 12th. Guggenheim lowered their target price on Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Wall Street Zen lowered Rezolute from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Finally, Wedbush raised their price objective on Rezolute to $2.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th.

Rezolute Stock Up 12.8%

Rezolute stock opened at $3.61 on Wednesday. The business has a 50-day simple moving average of $2.87 and a two-hundred day simple moving average of $6.41. The company has a market cap of $345.48 million, a P/E ratio of -3.88 and a beta of 0.46. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Research analysts anticipate that Rezolute will post -0.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 40,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the transaction, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nevan C. Elam bought 32,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the purchase, the chief executive officer owned 641,119 shares in the company, valued at $1,019,379.21. This represents a 5.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 89,100 shares of company stock worth $150,232. 14.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in shares of Rezolute in the second quarter valued at about $25,000. ExodusPoint Capital Management LP bought a new stake in Rezolute during the 4th quarter valued at approximately $25,000. HB Wealth Management LLC purchased a new position in Rezolute in the 4th quarter worth approximately $26,000. Fifth Third Wealth Advisors LLC bought a new position in Rezolute in the 4th quarter worth approximately $29,000. Finally, Ameritas Investment Partners Inc. bought a new position in Rezolute in the 2nd quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.