Brokerages Set Rezolute, Inc. (NASDAQ:RZLT) Target Price at $24.13

Rezolute, Inc. (NASDAQ:RZLT) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have covered the stock in the last year is $24.13.

Several brokerages recently weighed in on RZLT. JMP Securities reiterated a “market outperform” rating and issued a $7.00 target price on shares of Rezolute in a report on Friday, September 20th. Wedbush reaffirmed an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. Guggenheim assumed coverage on shares of Rezolute in a research report on Tuesday, August 27th. They set a “buy” rating and a $11.00 target price for the company. BTIG Research lifted their price target on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Friday, November 8th.

Rezolute Stock Performance

Rezolute stock opened at $4.44 on Friday. The company has a market cap of $257.27 million, a price-to-earnings ratio of -3.50 and a beta of 1.01. Rezolute has a 1 year low of $0.88 and a 1 year high of $6.19. The firm has a 50 day moving average price of $5.12 and a 200 day moving average price of $4.78.

Insider Activity

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 150,900 shares in the company, valued at $647,361. The trade was a 7.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.39% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently bought and sold shares of RZLT. Exome Asset Management LLC boosted its stake in shares of Rezolute by 24.7% during the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after buying an additional 69,656 shares during the last quarter. Virtu Financial LLC boosted its stake in Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after acquiring an additional 9,551 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rezolute by 39.0% during the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after acquiring an additional 137,905 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Rezolute in the 3rd quarter valued at about $57,000. Finally, XTX Topco Ltd lifted its position in shares of Rezolute by 67.4% during the third quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock worth $273,000 after purchasing an additional 22,704 shares during the last quarter. 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.