Rezolute (NASDAQ:RZLT) Coverage Initiated at Jonestrading

Research analysts at Jonestrading initiated coverage on shares of Rezolute (NASDAQ:RZLT) in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Jonestrading’s price target would indicate a potential upside of 208.64% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Maxim Group started coverage on shares of Rezolute in a report on Tuesday, April 9th. They set a “buy” rating and a $8.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday, March 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rezolute currently has a consensus rating of “Buy” and an average price target of $8.80.

Rezolute Trading Down 4.7 %

Shares of RZLT opened at $3.24 on Thursday. Rezolute has a 12 month low of $0.72 and a 12 month high of $3.63. The firm has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $1.30. The stock has a market capitalization of $130.02 million, a price-to-earnings ratio of -2.95 and a beta of 1.29.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). As a group, research analysts predict that Rezolute will post -1.06 earnings per share for the current fiscal year.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $33,800.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $33,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Rezolute news, CFO Daron Evans purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $1.69 per share, for a total transaction of $33,800.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares of the company’s stock, valued at approximately $33,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Young-Jin Kim purchased 36,503 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was acquired at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the purchase, the director now directly owns 115,450 shares of the company’s stock, valued at approximately $220,509.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 179,403 shares of company stock worth $306,601. Corporate insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of large investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Rezolute in the 4th quarter valued at approximately $32,000. Renaissance Technologies LLC bought a new position in Rezolute during the 2nd quarter worth approximately $58,000. FMR LLC bought a new position in Rezolute during the 1st quarter worth approximately $39,000. State Street Corp bought a new stake in shares of Rezolute in the 1st quarter valued at $69,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Rezolute in the 4th quarter valued at $67,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Company Profile

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.