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

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) have received a consensus recommendation of "Buy" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $11.83.

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

Rezolute Stock Performance

Shares of NASDAQ RZLT traded down $0.09 during trading on Wednesday, reaching $5.20. The company had a trading volume of 141,400 shares, compared to its average volume of 658,943. Rezolute has a 52 week low of $2.22 and a 52 week high of $6.19. The stock has a market cap of $444.27 million, a PE ratio of -4.51 and a beta of 1.03. The business's 50 day moving average price is $4.16 and its 200-day moving average price is $4.10.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its 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). Equities analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Young-Jin Kim bought 1,230,769 shares of the stock in a transaction on Friday, June 13th. The stock was purchased at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the purchase, the director owned 8,423,386 shares of the company's stock, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 1,241,345 shares of company stock valued at $4,041,196 over the last ninety days. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Large investors have recently bought and sold shares of the company. Man Group plc bought a new stake in Rezolute in the fourth quarter valued at approximately $425,000. Geode Capital Management LLC boosted its holdings 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 during the period. Ameriprise Financial Inc. acquired a new position in shares of Rezolute in the fourth quarter valued at approximately $342,000. Barclays PLC acquired a new position in shares of Rezolute in the fourth quarter valued at approximately $314,000. Finally, Nantahala Capital Management LLC boosted its holdings in shares of 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 period. Institutional investors own 82.97% of the company's stock.

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.