Rezolute’s (RZLT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $14.00 target price on the stock.

Separately, Wedbush reissued an “outperform” rating and set a $112.00 price target on shares of Rezolute in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $24.13.

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $4.91 on Wednesday. Rezolute has a 1 year low of $0.98 and a 1 year high of $6.19. The stock has a market cap of $284.50 million, a P/E ratio of -3.87 and a beta of 1.10. The firm has a 50-day moving average of $4.91 and a 200 day moving average of $4.89.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. Research analysts expect that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was 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 approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 18.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of Rezolute during the third quarter valued at approximately $42,000. MML Investors Services LLC bought a new stake in Rezolute during the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rezolute during the third quarter valued at approximately $65,000. Charles Schwab Investment Management Inc. grew its position in Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after buying an additional 9,000 shares during the period. Finally, Virtu Financial LLC grew its position in Rezolute by 58.0% during the third 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. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.