Rezolute (NASDAQ:RZLT) Given Market Outperform Rating at JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating reaffirmed by research analysts at JMP Securities in a research report issued on Thursday, Benzinga reports. They currently have a $7.00 price target on the stock. JMP Securities’ price objective would indicate a potential upside of 112.12% from the stock’s current price.

RZLT has been the topic of a number of other reports. Maxim Group started coverage on Rezolute in a report on Tuesday, April 9th. They issued a “buy” rating and a $8.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Thursday, March 7th. Finally, Jonestrading assumed coverage on Rezolute in a report on Thursday. They set a “buy” rating and a $10.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $8.80.

Rezolute Trading Up 1.9 %

Shares of NASDAQ RZLT traded up $0.06 during mid-day trading on Thursday, reaching $3.30. The company had a trading volume of 182,829 shares, compared to its average volume of 301,538. The stock has a market cap of $132.43 million, a PE ratio of -2.99 and a beta of 1.29. The company has a 50-day moving average price of $1.96 and a two-hundred day moving average price of $1.30. Rezolute has a 1-year low of $0.72 and a 1-year high of $3.63.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.27). On average, research analysts expect that Rezolute will post -1.06 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Daron Evans purchased 50,000 shares of Rezolute stock in a transaction on Friday, March 8th. The stock was bought at an average price of $1.93 per share, with a total value of $96,500.00. Following the completion of the transaction, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at $233,337. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Young-Jin Kim purchased 36,503 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of $1.91 per share, with a total value of $69,720.73. Following the acquisition, the director now directly owns 115,450 shares in the company, valued at approximately $220,509.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daron Evans acquired 50,000 shares of Rezolute stock in a transaction on Friday, March 8th. The shares were purchased at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the acquisition, the chief financial officer now owns 120,900 shares in the company, valued at approximately $233,337. The disclosure for this purchase can be found here. Insiders purchased 179,403 shares of company stock valued at $306,601 over the last quarter. Insiders own 18.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Rezolute by 53.6% in the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock valued at $10,083,000 after purchasing an additional 3,544,053 shares during the period. Vivo Capital LLC lifted its stake in shares of Rezolute by 569.4% in the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after purchasing an additional 2,758,403 shares during the period. First Manhattan Co. raised its stake in Rezolute by 72.0% during the 4th quarter. First Manhattan Co. now owns 3,123,078 shares of the company’s stock worth $6,465,000 after buying an additional 1,307,273 shares during the period. Stonepine Capital Management LLC raised its stake in Rezolute by 1.6% during the 4th quarter. Stonepine Capital Management LLC now owns 3,021,504 shares of the company’s stock worth $6,255,000 after buying an additional 48,299 shares during the period. Finally, Nantahala Capital Management LLC raised its stake in Rezolute by 99.8% during the 4th quarter. Nantahala Capital Management LLC now owns 1,537,707 shares of the company’s stock worth $1,526,000 after buying an additional 768,101 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.