Rezolute (NASDAQ:RZLT) Hits New 52-Week High - Still a 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) reached a new 52-week high during mid-day trading on Monday . The company 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.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research note on Monday, April 28th. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $12.00 target price on shares of Rezolute in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $12.20.

Rezolute Trading Up 0.9%

The firm has a market capitalization of $614.31 million, a PE ratio of -6.14 and a beta of 0.18. The firm has a 50-day moving average of $5.42 and a two-hundred day moving average of $4.31.

Insider Activity

In other Rezolute news, Director Young-Jin Kim bought 1,230,769 shares of the company's stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the transaction, the director owned 8,423,386 shares in the company, valued at $27,376,004.50. The trade was a 17.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 1,241,345 shares of company stock worth $4,041,196 over the last 90 days. 18.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rezolute

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in shares of Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company's stock valued at $62,595,000 after purchasing an additional 2,755,385 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Rezolute by 699.7% during 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 buying an additional 2,210,038 shares during the period. Rosalind Advisors Inc. acquired a new stake in Rezolute in the second quarter worth approximately $7,766,000. Geode Capital Management LLC lifted its position in Rezolute by 201.7% in the second quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company's stock worth $7,633,000 after purchasing an additional 1,143,834 shares during the period. Finally, Woodline Partners LP lifted its position in Rezolute by 2,817.1% in the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock worth $5,338,000 after purchasing an additional 1,052,002 shares during the period. 82.97% of the stock is currently 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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