Rezolute (NASDAQ:RZLT) Receives Buy Rating from Guggenheim

Guggenheim reiterated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research report released on Monday,Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a research report on Monday, November 4th. Finally, Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.13.

Rezolute Stock Performance

RZLT opened at $4.84 on Monday. The company has a market cap of $280.43 million, a price-to-earnings ratio of -3.81 and a beta of 1.10. Rezolute has a one year low of $1.04 and a one year high of $6.19. The business’s fifty day moving average is $4.90 and its two-hundred day moving average is $4.90.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost 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 of the company’s stock, valued at $647,361. This trade represents a 7.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of Rezolute during the 3rd quarter worth about $42,000. MML Investors Services LLC acquired a new position in shares of Rezolute in the 3rd quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rezolute in the 3rd quarter valued at $65,000. Charles Schwab Investment Management Inc. grew its stake in shares of Rezolute by 65.4% during the 4th 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 increased its holdings in shares of Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares during the last quarter. Hedge funds and other institutional investors 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.