Rezolute, Inc. (NASDAQ:RZLT) Receives Average Rating of "Buy" from Analysts

Key Points

• Rezolute, Inc. (NASDAQ:RZLT) has received an average recommendation of "Buy" from seven brokerages, with a 12-month price target averaging $11.83.
• Insider transactions show that Director Young-Jin Kim purchased over 1.2 million shares at $3.25 each, increasing their ownership to 8.4 million shares.
• Recent reporting reveals Rezolute's EPS was ($0.27), below the consensus estimate of ($0.22), indicating challenges for the company amid a forecasted -0.93 EPS for the current fiscal year.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been assigned an average recommendation of "Buy" from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $12.20.

Several analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $12.00 target price on shares of Rezolute in a report on Wednesday, May 14th.

Rezolute Stock Down 2.1%

RZLT traded down $0.12 on Friday, reaching $5.57. 357,635 shares of the company traded hands, compared to its average volume of 942,200. The firm has a fifty day simple moving average of $4.92 and a two-hundred day simple moving average of $4.21. The company has a market cap of $484.57 million, a P/E ratio of -4.84 and a beta of 0.18. Rezolute has a one year low of $2.21 and a one year high of $6.64.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). On average, equities analysts forecast that Rezolute will post -0.93 earnings per share for the current year.

Insider Activity at Rezolute

In other news, Director Young-Jin Kim acquired 1,230,769 shares of Rezolute stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $3.25 per share, for a total transaction of $3,999,999.25. Following the transaction, the director directly owned 8,423,386 shares of the company's stock, valued at approximately $27,376,004.50. The trade was a 17.11% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 1,241,345 shares of company stock worth $4,041,196 over the last quarter. 18.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RZLT. Man Group plc purchased a new stake in shares of Rezolute in the fourth quarter valued at approximately $425,000. Geode Capital Management LLC boosted its stake in shares of Rezolute by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 517,014 shares of the company's stock valued at $2,535,000 after buying an additional 25,413 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Rezolute during the 4th quarter worth about $342,000. Barclays PLC acquired a new position in shares of Rezolute during the 4th quarter valued at $314,000. Finally, Nantahala Capital Management LLC increased its position in Rezolute by 10.9% in the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after buying an additional 280,861 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.