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

Rezolute, Inc. (NASDAQ:RZLT) has earned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.50.

Several research firms have recently weighed in on RZLT. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Wedbush reiterated an “outperform” rating and set a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday.

Insider Activity at Rezolute

In other news, Director Young-Jin Kim purchased 1,230,769 shares of the business’s stock in a transaction on Friday, June 13th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $3,999,999.25. Following the acquisition, the director directly owned 8,423,386 shares of the company’s stock, valued at $27,376,004.50. This represents a 17.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 1,241,345 shares of company stock valued at $4,041,196 over the last 90 days. 18.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its holdings in shares of Rezolute by 24.4% in the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after acquiring an additional 2,755,385 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Rezolute by 56.4% in the 2nd quarter. Marshall Wace LLP now owns 2,886,481 shares of the company’s stock valued at $12,874,000 after purchasing an additional 1,041,234 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Rezolute by 77.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock valued at $10,220,000 after purchasing an additional 1,000,000 shares during the period. Affinity Asset Advisors LLC lifted its stake in shares of Rezolute by 29.4% in the 2nd quarter. Affinity Asset Advisors LLC now owns 2,200,000 shares of the company’s stock valued at $9,812,000 after purchasing an additional 500,000 shares during the period. Finally, Rosalind Advisors Inc. acquired a new position in shares of Rezolute in the 2nd quarter valued at $7,766,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Price Performance

Shares of RZLT stock traded up $0.00 on Wednesday, hitting $7.17. The stock had a trading volume of 65,138 shares, compared to its average volume of 920,708. The business has a 50 day moving average of $5.84 and a 200 day moving average of $4.43. The stock has a market cap of $623.96 million, a price-to-earnings ratio of -6.24 and a beta of 0.03. Rezolute has a 12-month low of $2.21 and a 12-month high of $7.46.

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.