Rezolute (NASDAQ:RZLT) Sets New 1-Year High - Should You Buy?

Key Points

• Shares of Rezolute, Inc. reached a new 52-week high of $7.15, closing at $7.12, with significant trading volume of 189,947 shares.
• Analysts have mixed views on Rezolute, with HC Wainwright maintaining a "buy" rating and targeting price of $14.00, while Wall Street Zen downgraded it to a "sell."
• Insider activity has increased, with Director Young-Jin Kim purchasing over 1.2 million shares and institutional investors holding 82.97% of the stock.

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.15 and last traded at $7.12, with a volume of 189947 shares trading hands. The stock had previously closed at $7.00.

Wall Street Analysts Forecast Growth

RZLT has been the topic of several research reports. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wedbush reiterated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat.com, Rezolute has an average rating of "Buy" and an average price target of $12.50.

Rezolute Stock Down 1.4%

The stock has a market capitalization of $619.44 million, a price-to-earnings ratio of -6.19 and a beta of 0.18. The business's 50-day moving average is $5.72 and its two-hundred day moving average is $4.39.

Insiders Place Their Bets

In other news, Director Young-Jin Kim bought 1,230,769 shares of the firm's stock in a transaction on Friday, June 13th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $3,999,999.25. Following the acquisition, the director directly owned 8,423,386 shares of the company's stock, valued at $27,376,004.50. This trade represents a 17.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 1,241,345 shares of company stock valued at $4,041,196. Insiders own 18.39% of the company's stock.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently bought and sold shares of RZLT. BNP Paribas Financial Markets acquired a new position in Rezolute in the 2nd quarter valued at about $25,000. Ameritas Investment Partners Inc. acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $30,000. Legal & General Group Plc acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $32,000. Jeppson Wealth Management LLC acquired a new position in shares of Rezolute in the 1st quarter worth approximately $35,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $46,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.