Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Hold” from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has received a consensus rating of “Hold” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.7778.

A number of brokerages have recently commented on RZLT. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Rezolute in a research report on Thursday, December 11th. HC Wainwright lowered their price target on Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a report on Friday, December 12th. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Cantor Fitzgerald cut shares of Rezolute from an “overweight” rating to a “neutral” rating in a research report on Thursday, December 11th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $20.00 target price on shares of Rezolute in a report on Friday, December 5th.

Insiders Place Their Bets

In other news, CFO Daron Evans acquired 40,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was acquired at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the acquisition, the chief financial officer directly owned 415,900 shares in the company, valued at approximately $736,143. This represents a 10.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nevan C. Elam bought 32,000 shares of Rezolute stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. The trade was a 5.25% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 89,100 shares of company stock valued at $150,232. Insiders own 14.78% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RZLT. BNP Paribas Financial Markets purchased a new stake in Rezolute during the second quarter worth approximately $25,000. Ameritas Investment Partners Inc. acquired a new position in shares of Rezolute during the 2nd quarter valued at $30,000. Legal & General Group Plc acquired a new position in shares of Rezolute during the 2nd quarter valued at $32,000. Raymond James Financial Inc. purchased a new stake in Rezolute during the 2nd quarter worth $46,000. Finally, Paloma Partners Management Co acquired a new stake in Rezolute in the 1st quarter valued at $48,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Price Performance

NASDAQ:RZLT opened at $1.85 on Friday. The firm has a market cap of $171.55 million, a PE ratio of -1.99 and a beta of 0.21. The firm has a 50 day simple moving average of $8.60 and a 200-day simple moving average of $7.09. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. As a group, sell-side analysts expect that Rezolute will post -0.93 earnings per share for the current fiscal 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.