Rezolute, Inc. (NASDAQ:RZLT) Receives $24.13 Average Target Price from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Buy” by the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $24.13.

Several equities analysts recently issued reports on RZLT shares. Wedbush reissued an “outperform” rating and set a $112.00 price objective on shares of Rezolute in a report on Monday, November 4th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Friday, November 8th. Finally, JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a report on Friday, September 20th.

Rezolute Price Performance

Shares of Rezolute stock opened at $4.87 on Wednesday. The stock has a market cap of $282.17 million, a price-to-earnings ratio of -3.83 and a beta of 1.08. The firm’s 50-day moving average is $4.96 and its two-hundred day moving average is $4.82. Rezolute has a 1 year low of $0.92 and a 1 year high of $6.19.

Insider Buying and Selling

In related news, CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at $647,361. This represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.39% of the stock is owned by company insiders.

Institutional Trading of Rezolute

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in shares of Rezolute in the third quarter worth about $42,000. MML Investors Services LLC purchased a new stake in Rezolute in the third quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute during the 3rd quarter valued at about $65,000. Virtu Financial LLC lifted its holdings in shares of Rezolute by 58.0% in the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after buying an additional 9,551 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Rezolute by 205.8% in the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after buying an additional 22,660 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.