Rezolute, Inc. (NASDAQ:RZLT) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) have earned an average recommendation of "Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $12.14.

A number of analysts have recently issued reports on RZLT shares. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday. JMP Securities boosted their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a "market outperform" rating in a research note on Thursday, February 13th. Wedbush reiterated an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research note on Wednesday, May 14th. Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Rezolute in a research report on Monday, April 28th.

Insider Buying and Selling

In other news, CEO Nevan C. Elam acquired 12,302 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the completion of the acquisition, the chief executive officer now owns 224,119 shares of the company's stock, valued at approximately $638,739.15. This represents a 5.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daron Evans bought 10,000 shares of the firm's stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $2.89 per share, with a total value of $28,900.00. Following the transaction, the chief financial officer now directly owns 237,900 shares of the company's stock, valued at approximately $687,531. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 29,060 shares of company stock valued at $83,694 over the last 90 days. 18.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rezolute

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Rezolute by 9.0% in the first quarter. Acadian Asset Management LLC now owns 605,042 shares of the company's stock worth $1,752,000 after acquiring an additional 50,163 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Rezolute in the first quarter worth $685,000. Paloma Partners Management Co bought a new position in Rezolute in the first quarter worth $48,000. Cubist Systematic Strategies LLC lifted its position in Rezolute by 335.4% in the first quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company's stock worth $611,000 after purchasing an additional 162,216 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in Rezolute by 56.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company's stock worth $345,000 after purchasing an additional 42,900 shares during the period. 82.97% of the stock is owned by institutional investors.

Rezolute Stock Down 0.3%

Shares of RZLT traded down $0.01 during mid-day trading on Tuesday, hitting $3.89. The company had a trading volume of 431,957 shares, compared to its average volume of 587,753. The business's 50-day simple moving average is $3.27 and its 200-day simple moving average is $4.23. Rezolute has a 1-year low of $2.22 and a 1-year high of $6.19. The stock has a market cap of $235.48 million, a PE ratio of -3.19 and a beta of 1.01.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts expect that Rezolute will post -0.93 earnings per share for the current year.

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.