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

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average recommendation of “Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $9.67.

RZLT has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, May 22nd. Craig Hallum initiated coverage on shares of Rezolute in a report on Tuesday, June 4th. They set a “buy” rating and a $14.00 price target on the stock. Maxim Group initiated coverage on shares of Rezolute in a report on Tuesday, April 9th. They set a “buy” rating and a $8.00 price target on the stock. Jonestrading initiated coverage on shares of Rezolute in a report on Thursday, April 18th. They set a “buy” rating and a $10.00 price target on the stock. Finally, JMP Securities reissued a “market outperform” rating and set a $7.00 target price on shares of Rezolute in a report on Thursday, April 18th.

Insider Activity at Rezolute

In related news, CFO Daron Evans bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $4.04 per share, for a total transaction of $161,600.00. Following the transaction, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at $161,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 57,124 shares of company stock worth $220,314 in the last quarter. Company insiders own 20.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Rezolute during the first quarter worth $37,000. Acadian Asset Management LLC acquired a new position in Rezolute during the first quarter worth $229,000. Rosalind Advisors Inc. acquired a new position in Rezolute during the first quarter worth $510,000. Vanguard Group Inc. raised its holdings in Rezolute by 10.4% during the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after buying an additional 145,700 shares during the last quarter. Finally, Affinity Asset Advisors LLC acquired a new position in Rezolute during the first quarter worth $4,080,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Up 7.2 %

RZLT stock opened at $4.30 on Friday. Rezolute has a 12 month low of $0.72 and a 12 month high of $6.10. The firm has a market cap of $172.56 million, a P/E ratio of -3.77 and a beta of 1.31. The company’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $2.29.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). Equities analysts predict that Rezolute will post -1.15 EPS for the current year.

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.