Brokerages Set Rezolute, Inc. (NASDAQ:RZLT) Target Price at $8.67

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus recommendation of “Hold” from the twelve research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.6667.

A number of brokerages have recently commented on RZLT. Citigroup cut Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, January 22nd. Citizens Jmp cut shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. HC Wainwright decreased their price target on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a report on Friday, December 12th. Finally, Maxim Group set a $4.00 price objective on shares of Rezolute in a research report on Friday, December 12th.

Rezolute Stock Performance

Shares of Rezolute stock opened at $3.24 on Friday. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46. The stock has a market capitalization of $300.45 million, a price-to-earnings ratio of -3.48 and a beta of 0.46. The firm has a fifty day moving average of $4.27 and a two-hundred day moving average of $6.69.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. As a group, research analysts forecast that Rezolute will post -0.93 EPS for the current fiscal year.

Insider Activity

In other Rezolute news, CFO Daron Evans acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at $736,143. This trade represents a 10.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nevan C. Elam bought 32,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average cost of $1.59 per share, with a total value of $50,880.00. Following the completion of 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. The SEC filing for this purchase provides additional information. Insiders acquired 89,100 shares of company stock valued at $150,232 over the last 90 days. Corporate insiders own 14.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RZLT. Federated Hermes Inc. raised its holdings in shares of Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock worth $62,595,000 after acquiring an additional 2,755,385 shares during the period. Vanguard Group Inc. boosted its stake in Rezolute by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock worth $41,455,000 after purchasing an additional 387,502 shares during the period. Marshall Wace LLP increased its holdings in Rezolute by 56.4% during the 2nd quarter. Marshall Wace LLP now owns 2,886,481 shares of the company’s stock worth $12,874,000 after purchasing an additional 1,041,234 shares in the last quarter. Mangrove Partners IM LLC raised its stake in shares of Rezolute by 25.4% in the 3rd quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock valued at $27,092,000 after purchasing an additional 584,660 shares during the period. Finally, UBS Group AG raised its stake in shares of Rezolute by 4.5% in the 4th quarter. UBS Group AG now owns 2,816,291 shares of the company’s stock valued at $6,646,000 after purchasing an additional 120,313 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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