Rezolute (NASDAQ:RZLT) Reaches New 12-Month High - Still a Buy?

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 hit a new 52-week high during mid-day trading on Monday . The company traded as high as $6.64 and last traded at $6.60, with a volume of 249530 shares. The stock had previously closed at $6.50.

Analyst Upgrades and Downgrades

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

Rezolute Stock Up 0.6%

The business's fifty day simple moving average is $5.42 and its two-hundred day simple moving average is $4.31. The company has a market cap of $609 million, a price-to-earnings ratio of -6.09 and a beta of 0.18.

Insiders Place Their Bets

In related news, Director Young-Jin Kim acquired 1,230,769 shares of the business's stock in a transaction on Friday, June 13th. The shares were bought at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the acquisition, the director owned 8,423,386 shares in the company, valued at $27,376,004.50. This trade represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 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 company insiders.

Institutional Trading of Rezolute

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in Rezolute in the 2nd quarter valued at $25,000. Ameritas Investment Partners Inc. purchased a new stake in Rezolute in the 2nd quarter valued at $30,000. Legal & General Group Plc purchased a new stake in Rezolute in the 2nd quarter valued at $32,000. Jeppson Wealth Management LLC purchased a new stake in Rezolute in the 1st quarter valued at $35,000. Finally, Raymond James Financial Inc. purchased a new stake in Rezolute in the 2nd quarter valued at $46,000. Hedge funds and other 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.