Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Moderate Buy” by the eleven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.3750.

Several brokerages have issued reports on RZLT. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Tuesday, April 21st. Maxim Group increased their target price on shares of Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Finally, Wedbush raised their price target on Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd.

Rezolute Price Performance

Shares of RZLT stock traded down $0.03 during trading hours on Tuesday, hitting $4.91. The stock had a trading volume of 328,788 shares, compared to its average volume of 2,594,048. The firm has a market capitalization of $472.30 million, a PE ratio of -5.99 and a beta of 0.54. The stock’s 50 day moving average is $3.91 and its 200 day moving average is $3.30. Rezolute has a twelve month low of $1.07 and a twelve month high of $11.46.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. As a group, equities analysts predict that Rezolute will post -0.69 earnings per share for the current year.

Institutional Trading of Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. Federated Hermes Inc. increased its holdings in shares of Rezolute by 17.8% in the fourth quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after purchasing an additional 2,500,000 shares during the period. RA Capital Management L.P. acquired a new stake in shares of Rezolute during the fourth quarter worth $21,665,000. Opaleye Management Inc. lifted its holdings in shares of Rezolute by 595.9% during the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after purchasing an additional 5,383,714 shares during the period. Balyasny Asset Management L.P. grew its position in Rezolute by 147.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after buying an additional 2,684,133 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Rezolute by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after buying an additional 387,502 shares during the last quarter. 82.97% of the stock is 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.