Rezolute (NASDAQ:RZLT) Hits New 1-Year High - Time to Buy?

Key Points

• Rezolute's stock reached a new 52-week high of $9.88, closing at $9.35, indicating strong trading activity with a volume of 426,021 shares.
• Analysts have given Rezolute a mostly positive outlook, with multiple upgrades and an average price target of $14.50, suggesting potential for growth.
• The company specializes in developing therapies for metabolic diseases and is currently working on its lead product candidate, RZ358, for treating congenital hyperinsulinism.

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.88 and last traded at $9.35, with a volume of 426021 shares changing hands. The stock had previously closed at $8.86.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Maxim Group boosted their price target on Rezolute from $15.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, September 18th. BTIG Research restated a "buy" rating and issued a $17.00 price target on shares of Rezolute in a research report on Thursday, September 18th. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research report on Wednesday, September 3rd. Wedbush restated an "outperform" rating and issued a $12.00 price target on shares of Rezolute in a research report on Thursday, September 18th. Finally, Guggenheim reiterated a "buy" rating and set a $15.00 target price on shares of Rezolute in a research report on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Rezolute has an average rating of "Moderate Buy" and a consensus price target of $14.50.

Rezolute Trading Up 4.6%

The firm has a market capitalization of $841.98 million, a P/E ratio of -9.55 and a beta of 0.04. The firm has a 50 day moving average price of $7.97 and a 200-day moving average price of $5.59.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.03). Research analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Institutional Trading of Rezolute

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. grew its holdings in Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company's stock worth $62,595,000 after acquiring an additional 2,755,385 shares during the period. Marshall Wace LLP grew its holdings in Rezolute by 56.4% during the second quarter. Marshall Wace LLP now owns 2,886,481 shares of the company's stock worth $12,874,000 after acquiring an additional 1,041,234 shares during the period. Nantahala Capital Management LLC grew its holdings in Rezolute by 77.4% during the second quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company's stock worth $10,220,000 after acquiring an additional 1,000,000 shares during the period. Affinity Asset Advisors LLC grew its holdings in Rezolute by 29.4% during the second quarter. Affinity Asset Advisors LLC now owns 2,200,000 shares of the company's stock worth $9,812,000 after acquiring an additional 500,000 shares during the period. Finally, Rosalind Advisors Inc. acquired a new stake in Rezolute during the second quarter worth about $7,766,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.

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