Rezolute (NASDAQ:RZLT) Reaches New 1-Year High - Time to Buy?

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.21 and last traded at $5.97, with a volume of 1037912 shares changing hands. The stock had previously closed at $5.88.

Analysts Set New Price Targets

Several research firms have recently weighed in on RZLT. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a research report on Monday, April 28th. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Wedbush restated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rezolute presently has a consensus rating of "Moderate Buy" and an average price target of $11.83.

Rezolute Stock Up 1.3%

The company has a market capitalization of $555.06 million, a PE ratio of -5.55 and a beta of 1.03. The business's 50 day simple moving average is $4.59 and its 200 day simple moving average is $4.13.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). On average, analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Young-Jin Kim purchased 1,230,769 shares of Rezolute stock in a transaction dated Friday, June 13th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 1,241,345 shares of company stock valued at $4,041,196 over the last ninety days. 18.39% of the stock is owned by corporate insiders.

Institutional Trading of Rezolute

A number of hedge funds have recently made changes to their positions in the stock. Jeppson Wealth Management LLC bought a new position in Rezolute during the first quarter valued at approximately $35,000. Paloma Partners Management Co acquired a new position in Rezolute during the first quarter valued at approximately $48,000. Alpine Global Management LLC acquired a new position in Rezolute during the fourth quarter valued at approximately $54,000. Retireful LLC acquired a new position in Rezolute during the second quarter valued at approximately $70,000. Finally, XTX Topco Ltd acquired a new position in Rezolute during the first quarter valued at approximately $95,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.