Rezolute (NASDAQ:RZLT) Earns "Buy" Rating from HC Wainwright

Rezolute (NASDAQ:RZLT - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 250.00% from the company's current price.

A number of other research firms also recently issued reports on RZLT. Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research note on Tuesday, February 4th. Guggenheim reaffirmed a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Finally, JMP Securities increased their price target on Rezolute from $8.00 to $9.00 and gave the company a "market outperform" rating in a research report on Thursday, February 13th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $26.43.

Rezolute Stock Performance

Rezolute stock traded up $0.04 during mid-day trading on Monday, reaching $4.00. The stock had a trading volume of 713,741 shares, compared to its average volume of 602,281. Rezolute has a fifty-two week low of $2.22 and a fifty-two week high of $6.19. The stock's 50-day simple moving average is $3.30 and its 200-day simple moving average is $4.42. The firm has a market capitalization of $242.14 million, a PE ratio of -3.28 and a beta of 0.97.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. On average, research analysts forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Nevan C. Elam acquired 12,302 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of $2.85 per share, with a total value of $35,060.70. Following the acquisition, the chief executive officer now owns 224,119 shares in the company, valued at approximately $638,739.15. This represents a 5.81 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wladimir Hogenhuis purchased 10,000 shares of Rezolute stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now directly owns 77,267 shares of the company's stock, valued at approximately $363,154.90. The trade was a 14.87 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 39,060 shares of company stock valued at $130,694 in the last ninety days. 18.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rezolute

Hedge funds and other institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. lifted its stake in shares of Rezolute by 699.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock valued at $12,377,000 after purchasing an additional 2,210,038 shares during the period. Woodline Partners LP grew its position in Rezolute by 2,817.1% during the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock valued at $5,338,000 after purchasing an additional 1,052,002 shares during the last quarter. Susquehanna International Group LLP increased its stake in Rezolute by 749.0% during the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock valued at $4,379,000 after purchasing an additional 788,349 shares in the last quarter. Walleye Capital LLC purchased a new position in Rezolute in the fourth quarter worth about $2,408,000. Finally, Nantahala Capital Management LLC lifted its stake 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 worth $14,004,000 after buying an additional 280,861 shares in the last quarter. 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.