Analysts Set Rezolute, Inc. (NASDAQ:RZLT) PT at $24.13

Rezolute, Inc. (NASDAQ:RZLT) has received a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $24.13.

Several analysts have recently issued reports on the company. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a report on Monday, November 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday, February 5th.

Rezolute Stock Performance

RZLT opened at $4.78 on Friday. The stock has a fifty day moving average of $4.90 and a 200-day moving average of $4.90. Rezolute has a fifty-two week low of $1.04 and a fifty-two week high of $6.19. The company has a market capitalization of $276.95 million, a P/E ratio of -3.76 and a beta of 1.10.

Insider Buying and Selling

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 18.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RZLT. JPMorgan Chase & Co. bought a new position in Rezolute in the 3rd quarter valued at about $42,000. MML Investors Services LLC bought a new position in shares of Rezolute in the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rezolute during the third quarter valued at approximately $65,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 last quarter. Finally, Virtu Financial LLC grew its holdings in Rezolute by 58.0% during the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.