Rezolute (NASDAQ:RZLT) Coverage Initiated at Maxim Group

Equities research analysts at Maxim Group assumed coverage on shares of Rezolute (NASDAQ:RZLT - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $8.00 price target on the stock. Maxim Group's target price indicates a potential upside of 220.00% from the company's current price.

Separately, HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Thursday, March 7th.

Rezolute Price Performance

Shares of RZLT stock traded down $0.03 during trading on Tuesday, reaching $2.50. The company had a trading volume of 179,859 shares, compared to its average volume of 295,495. The firm's 50 day simple moving average is $1.71 and its two-hundred day simple moving average is $1.23. Rezolute has a one year low of $0.72 and a one year high of $2.73. The company has a market capitalization of $99.05 million, a PE ratio of -2.36 and a beta of 1.29.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.27) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.27). Analysts forecast that Rezolute will post -1.06 earnings per share for the current year.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 41,900 shares of the company's stock in a transaction on Friday, February 16th. The shares were bought at an average cost of $1.30 per share, with a total value of $54,470.00. Following the transaction, the chief financial officer now directly owns 70,900 shares in the company, valued at approximately $92,170. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Rezolute news, CFO Daron Evans purchased 41,900 shares of the company's stock in a transaction on Friday, February 16th. The shares were bought at an average cost of $1.30 per share, with a total value of $54,470.00. Following the transaction, the chief financial officer now directly owns 70,900 shares in the company, valued at approximately $92,170. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Young-Jin Kim acquired 36,503 shares of the stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the transaction, the director now owns 115,450 shares of the company's stock, valued at approximately $220,509.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 179,403 shares of company stock valued at $306,601 in the last three months. Company insiders own 18.20% of the company's stock.

Institutional Trading of Rezolute

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. Vanguard Group Inc. increased its position in shares of Rezolute by 3.2% during the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company's stock valued at $1,162,000 after purchasing an additional 10,500 shares during the period. State Street Corp acquired a new stake in Rezolute in the 1st quarter valued at $69,000. Worth Venture Partners LLC boosted its stake in Rezolute by 72.5% in the 1st quarter. Worth Venture Partners LLC now owns 104,709 shares of the company's stock valued at $354,000 after buying an additional 43,991 shares in the last quarter. Northern Trust Corp boosted its stake in Rezolute by 65.2% in the 2nd quarter. Northern Trust Corp now owns 85,097 shares of the company's stock valued at $274,000 after buying an additional 33,581 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Rezolute in the 2nd quarter valued at $58,000. 82.97% of the stock is currently owned by 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.