Brokerages Set Rezolute, Inc. (NASDAQ:RZLT) Price Target at $11.83

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) has been given a consensus rating of "Buy" by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.83.

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

Insider Activity at Rezolute

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its holdings in Rezolute by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 605,042 shares of the company's stock worth $1,752,000 after buying an additional 50,163 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Rezolute in the first quarter valued at $685,000. Paloma Partners Management Co acquired a new stake in shares of Rezolute in the first quarter valued at $48,000. Cubist Systematic Strategies LLC boosted its holdings in Rezolute by 335.4% in the first quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company's stock valued at $611,000 after purchasing an additional 162,216 shares during the period. Finally, OMERS ADMINISTRATION Corp grew its stake in Rezolute by 56.4% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company's stock worth $345,000 after purchasing an additional 42,900 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Price Performance

Rezolute stock traded down $0.22 during trading on Friday, reaching $4.13. 564,750 shares of the company were exchanged, compared to its average volume of 578,229. The stock's 50 day simple moving average is $3.73 and its two-hundred day simple moving average is $4.12. The company has a market capitalization of $353.20 million, a P/E ratio of -3.59 and a beta of 1.04. Rezolute has a 52-week low of $2.22 and a 52-week high of $6.19.

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). As a group, equities analysts forecast 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.