Rezolute (NASDAQ:RZLT) Hits New 52-Week High - What's Next?

Key Points

• Rezolute, Inc.'s share price reached a new 52-week high of $6.64 amid significant trading volume of 249,530 shares.
• Wall Street analysts have mixed ratings on Rezolute, with one analyst rating it a "sell," while five others rate it a "buy" or "strong buy," and an average target price of $12.20.
• Recent insider activity includes Director Young-Jin Kim acquiring over 1.2 million shares, increasing their ownership by 17.11%.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $6.64 and last traded at $6.60, with a volume of 249530 shares traded. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen cut Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Monday, April 28th. Finally, Wedbush reiterated an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.20.

Rezolute Price Performance

The company has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $4.26. The firm has a market cap of $569.85 million, a PE ratio of -5.70 and a beta of 0.18.

Insider Activity at Rezolute

In related news, Director Young-Jin Kim acquired 1,230,769 shares of Rezolute stock in a transaction dated Friday, June 13th. The shares were purchased at an average cost of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the purchase, the director owned 8,423,386 shares of the company's stock, valued at $27,376,004.50. This represents a 17.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have acquired 1,241,345 shares of company stock worth $4,041,196. 18.39% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RZLT. Federated Hermes Inc. increased its position 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 buying an additional 2,755,385 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Rezolute by 699.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock worth $12,377,000 after purchasing an additional 2,210,038 shares in the last quarter. Rosalind Advisors Inc. bought a new stake in shares of Rezolute during the 2nd quarter valued at $7,766,000. Geode Capital Management LLC grew its position in shares of Rezolute by 201.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company's stock worth $7,633,000 after buying an additional 1,143,834 shares during the period. Finally, Woodline Partners LP lifted 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 acquiring an additional 1,052,002 shares during the period. 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.

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