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

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been given a consensus rating of "Buy" by the seven brokerages that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.83.

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

Rezolute Stock Performance

RZLT traded up $0.01 on Wednesday, reaching $5.26. 357,737 shares of the company's stock were exchanged, compared to its average volume of 661,141. Rezolute has a twelve month low of $2.22 and a twelve month high of $6.19. The company's 50 day moving average is $4.19 and its 200-day moving average is $4.10. The company has a market cap of $449.84 million, a price-to-earnings ratio of -4.57 and a beta of 1.03.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Sell-side analysts forecast that Rezolute will post -0.93 EPS for the current year.

Insider Buying and Selling at Rezolute

In related news, Director Young-Jin Kim purchased 1,230,769 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was acquired at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the transaction, the director owned 8,423,386 shares of the company's stock, valued at $27,376,004.50. This represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 1,241,345 shares of company stock worth $4,041,196 over the last three months. 18.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. Adage Capital Partners GP L.L.C. boosted its holdings in Rezolute by 699.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock worth $12,377,000 after purchasing an additional 2,210,038 shares during the period. Woodline Partners LP lifted its stake in Rezolute by 2,817.1% in the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock valued at $5,338,000 after buying an additional 1,052,002 shares during the last quarter. Susquehanna International Group LLP lifted its stake in Rezolute by 749.0% in the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock valued at $4,379,000 after buying an additional 788,349 shares during the last quarter. Walleye Capital LLC bought a new stake in Rezolute in the fourth quarter valued at $2,408,000. Finally, Nantahala Capital Management LLC lifted its stake in Rezolute by 10.9% in the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock valued at $14,004,000 after buying an additional 280,861 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

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.