Rezolute, Inc. (NASDAQ:RZLT) Receives $11.83 Consensus PT from Analysts

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has earned an average rating of "Buy" from the seven analysts that are covering the stock, MarketBeat Ratings reports. Six 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 price target among brokerages that have updated their coverage on the stock in the last year is $11.83.

RZLT has been the subject of several recent analyst reports. Wedbush restated an "outperform" rating and issued a $12.00 price target on shares of Rezolute in a research note on Wednesday, May 14th. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research note on Monday, April 28th. Finally, Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

Rezolute Price Performance

Shares of NASDAQ:RZLT traded up $0.31 during mid-day trading on Wednesday, reaching $5.28. 1,141,928 shares of the company traded hands, compared to its average volume of 658,964. The company's 50 day moving average price is $4.13 and its 200-day moving average price is $4.09. The firm has a market cap of $451.55 million, a PE ratio of -4.59 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 announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). On average, research analysts predict that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rezolute news, Director Young-Jin Kim bought 1,230,769 shares of Rezolute stock in a transaction 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 completion of the purchase, the director directly owned 8,423,386 shares in the company, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 1,241,345 shares of company stock valued at $4,041,196 in the last 90 days. Company insiders own 18.39% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock valued at $112,000 after buying an additional 9,000 shares in the last quarter. American Century Companies Inc. lifted its stake in Rezolute by 62.1% during the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company's stock worth $316,000 after acquiring an additional 24,742 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rezolute by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company's stock worth $2,535,000 after purchasing an additional 25,413 shares during the period. ExodusPoint Capital Management LP purchased a new stake in Rezolute during the 4th quarter worth about $277,000. Finally, Barclays PLC purchased a new position in shares of Rezolute in the 4th quarter valued at about $314,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.