Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Rezolute “Moderate Buy”: Eight of 12 analysts recommend buying the stock, while three have hold ratings and one has a sell rating. The average 12-month price target is $9.375.
• RZLT opened at $4.22, with a market capitalization of approximately $406 million and a 52-week trading range of $1.07 to $11.46.
• Institutional investors own approximately 82.97% of Rezolute’s shares, while the company advances clinical-stage treatments RZ358 for congenital hyperinsulinism and RZ402 for diabetic macular edema.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $9.3750.

A number of brokerages recently issued reports on RZLT. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a research report on Tuesday, June 30th. Maxim Group increased their price target on Rezolute from $10.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Citizens Jmp raised Rezolute from a "market perform" rating to an "outperform" rating and set a $11.00 price objective for the company in a research report on Wednesday, June 3rd. Cantor Fitzgerald reiterated a "neutral" rating on shares of Rezolute in a research note on Wednesday, June 3rd. Finally, Guggenheim increased their target price on Rezolute from $6.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, June 15th.

Rezolute Stock Up 1.2%

RZLT opened at $4.22 on Friday. The firm has a market cap of $406.34 million, a P/E ratio of -5.15 and a beta of 0.60. The business's fifty day simple moving average is $4.74 and its 200 day simple moving average is $3.97. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its position in shares of Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company's stock worth $39,022,000 after buying an additional 2,500,000 shares during the period. RA Capital Management L.P. acquired a new stake in Rezolute during the fourth quarter worth about $21,665,000. Opaleye Management Inc. raised its holdings in shares of Rezolute by 595.9% in the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company's stock worth $14,838,000 after purchasing an additional 5,383,714 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Rezolute by 147.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company's stock valued at $10,636,000 after purchasing an additional 2,684,133 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Rezolute by 9.6% during 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. 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.

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