Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Recommendation of "Buy" by Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) have been assigned an average recommendation of "Buy" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $11.83.

A number of equities analysts recently issued reports on the company. Wedbush reissued an "outperform" rating and set a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Rezolute in a research note on Monday, April 28th.

Rezolute Price Performance

Shares of RZLT traded down $0.03 during mid-day trading on Wednesday, reaching $5.25. 748,315 shares of the company's stock were exchanged, compared to its average volume of 662,355. The business's fifty day simple moving average is $4.16 and its 200-day simple moving average is $4.10. The stock has a market capitalization of $448.98 million, a PE ratio of -4.57 and a beta of 1.03. Rezolute has a 52-week low of $2.22 and a 52-week high of $6.19.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Equities research analysts predict that Rezolute will post -0.93 earnings per share for the current year.

Insider Activity at Rezolute

In other Rezolute news, Director Young-Jin Kim purchased 1,230,769 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $3,999,999.25. Following the completion of the purchase, the director directly owned 8,423,386 shares in the company, valued at $27,376,004.50. This represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 1,241,345 shares of company stock valued at $4,041,196. 18.39% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently made changes to their positions in the stock. Jeppson Wealth Management LLC purchased a new position in shares of Rezolute in the 1st quarter valued at about $35,000. Paloma Partners Management Co purchased a new position in Rezolute in the first quarter valued at about $48,000. Alpine Global Management LLC acquired a new stake in shares of Rezolute during the 4th quarter valued at approximately $54,000. XTX Topco Ltd purchased a new stake in shares of Rezolute during the 1st quarter worth approximately $95,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Rezolute by 48.5% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock worth $97,000 after acquiring an additional 6,470 shares in the last quarter. 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.