Rezolute (NASDAQ:RZLT) Hits New 1-Year High - What's Next?

Key Points

• Rezolute, Inc. stock reached a new 52-week high of $8.34, showing significant trading volume of 664,008 shares.
• Analysts have mixed views on the stock, with a consensus price target of $11.67 and ratings ranging from "buy" to "sell."
• Company insiders, including Director Young-Jin Kim, increased their holdings significantly, purchasing over 1.2 million shares recently.

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $8.34 and last traded at $8.10, with a volume of 664008 shares traded. The stock had previously closed at $8.08.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RZLT. 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 target on shares of Rezolute in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, Rezolute currently has an average rating of "Buy" and a consensus target price of $11.67.

Rezolute Stock Down 0.3%

The stock has a 50 day moving average of $6.41 and a 200 day moving average of $4.63. The company has a market capitalization of $648.12 million, a price-to-earnings ratio of -6.48 and a beta of 0.03.

Hedge Funds Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. Federated Hermes Inc. lifted its stake in shares of Rezolute by 24.4% in 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. Rosalind Advisors Inc. acquired a new position in shares of Rezolute in the second quarter worth approximately $7,766,000. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 1,143,834 shares during the period. Woodline Partners LP lifted its stake in shares of 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 acquiring an additional 1,052,002 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Rezolute by 56.4% in 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. 82.97% of the stock is 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.