Jonestrading Begins Coverage on Rezolute (NASDAQ:RZLT)

Jonestrading assumed coverage on shares of Rezolute (NASDAQ:RZLT - Free Report) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Other analysts have also issued research reports about the company. Maxim Group started coverage on Rezolute in a report on Tuesday, April 9th. They issued a buy rating and a $8.00 price objective for the company. HC Wainwright reaffirmed a buy rating and issued a $14.00 price objective on shares of Rezolute in a report on Thursday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average target price of $8.80.

Rezolute Stock Up 1.9 %

Shares of Rezolute stock traded up $0.06 on Thursday, reaching $3.30. The company's stock had a trading volume of 278,502 shares, compared to its average volume of 302,949. The company has a market capitalization of $132.43 million, a price-to-earnings ratio of -3.00 and a beta of 1.29. The firm's fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $1.32. Rezolute has a 52 week low of $0.72 and a 52 week high of $3.63.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, hitting analysts' consensus estimates of ($0.27). As a group, research analysts predict that Rezolute will post -1.06 EPS for the current year.

Insider Buying and Selling at Rezolute

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

Hedge Funds Weigh In On Rezolute

Several large investors have recently made changes to their positions in RZLT. Nantahala Capital Management LLC grew its holdings in shares of Rezolute by 99.8% in the fourth quarter. Nantahala Capital Management LLC now owns 1,537,707 shares of the company's stock valued at $1,526,000 after purchasing an additional 768,101 shares in the last quarter. Citadel Advisors LLC raised its position in Rezolute by 9.6% during the fourth quarter. Citadel Advisors LLC now owns 346,549 shares of the company's stock valued at $344,000 after purchasing an additional 30,285 shares during the period. UBS Group AG bought a new position in shares of Rezolute during the 4th quarter valued at approximately $216,000. Vivo Capital LLC increased its position in shares of Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company's stock valued at $3,219,000 after purchasing an additional 2,758,403 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Rezolute by 53.6% in the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company's stock valued at $10,083,000 after acquiring an additional 3,544,053 shares during the last quarter. 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.