Analysts Set Rezolute, Inc. (NASDAQ:RZLT) Price Target at $24.38

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.38.

RZLT has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research report on Thursday, February 13th. Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Finally, JMP Securities boosted their price objective on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th.

Rezolute Stock Down 0.5 %

Shares of RZLT stock opened at $3.85 on Thursday. The company has a 50 day moving average price of $4.77 and a 200-day moving average price of $4.90. Rezolute has a 52 week low of $1.66 and a 52 week high of $6.19. The firm has a market capitalization of $233.06 million, a PE ratio of -3.16 and a beta of 0.95.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.11. Analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Insider Transactions at Rezolute

In related news, Director Wladimir Hogenhuis purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the acquisition, the director now owns 77,267 shares in the company, valued at approximately $363,154.90. This trade represents a 14.87 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Daron Evans purchased 9,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $4.60 per share, for a total transaction of $41,400.00. Following the completion of the acquisition, the chief financial officer now owns 140,900 shares of the company’s stock, valued at approximately $648,140. The trade was a 6.82 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 29,000 shares of company stock worth $131,300. Insiders own 18.39% of the company’s stock.

Institutional Trading of Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. Adage Capital Partners GP L.L.C. lifted its stake in Rezolute by 699.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock worth $12,377,000 after acquiring an additional 2,210,038 shares during the period. Woodline Partners LP lifted its stake in Rezolute by 2,817.1% in the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock worth $5,338,000 after acquiring an additional 1,052,002 shares during the period. Susquehanna International Group LLP lifted its stake in Rezolute by 749.0% in the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock worth $4,379,000 after acquiring an additional 788,349 shares during the period. Walleye Capital LLC purchased a new stake in shares of Rezolute during the fourth quarter valued at about $2,408,000. Finally, Nantahala Capital Management LLC lifted its position in shares of Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock valued at $14,004,000 after buying an additional 280,861 shares during the last quarter. 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.