Rezolute, Inc. (NASDAQ:RZLT) Given Average Rating of “Buy” by Analysts

Rezolute, Inc. (NASDAQ:RZLT) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.83.

RZLT has been the topic of several recent analyst reports. 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 target on shares of Rezolute in a research note on Monday, April 28th. Finally, Wedbush restated an “outperform” rating and set a $12.00 price objective on shares of Rezolute in a report on Wednesday, May 14th.

Insider Activity

In other news, CEO Nevan C. Elam acquired 12,302 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average cost of $2.85 per share, for a total transaction of $35,060.70. Following the acquisition, the chief executive officer now directly owns 224,119 shares in the company, valued at $638,739.15. This trade represents a 5.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daron Evans bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average price of $2.89 per share, with a total value of $28,900.00. Following the acquisition, the chief financial officer now directly owns 237,900 shares in the company, valued at approximately $687,531. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 29,060 shares of company stock valued at $83,694 in the last ninety days. Company insiders own 18.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RZLT. Acadian Asset Management LLC grew its stake in Rezolute by 9.0% during the first quarter. Acadian Asset Management LLC now owns 605,042 shares of the company’s stock worth $1,752,000 after buying an additional 50,163 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Rezolute during the 1st quarter valued at $685,000. Paloma Partners Management Co purchased a new stake in Rezolute during the 1st quarter worth $48,000. Cubist Systematic Strategies LLC increased its holdings in Rezolute by 335.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company’s stock valued at $611,000 after purchasing an additional 162,216 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in Rezolute by 56.4% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock valued at $345,000 after purchasing an additional 42,900 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Stock Up 1.0%

Shares of NASDAQ:RZLT opened at $4.11 on Friday. The company has a market capitalization of $351.49 million, a P/E ratio of -3.57 and a beta of 1.04. Rezolute has a 52-week low of $2.22 and a 52-week high of $6.19. The stock’s fifty day simple moving average is $3.82 and its 200-day simple moving average is $4.11.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). On average, sell-side analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

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.