Rezolute, Inc. (NASDAQ:RZLT) Receives $7.63 Average Price Target from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus rating of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.6250.

Several research firms have commented on RZLT. Citizens Jmp downgraded shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Maxim Group set a $4.00 price objective on shares of Rezolute in a research note on Friday, December 12th. Wedbush increased their target price on shares of Rezolute to $2.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Cantor Fitzgerald lowered Rezolute from an “overweight” rating to a “neutral” rating in a report on Thursday, December 11th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $5.00 price target on shares of Rezolute in a research report on Thursday, January 8th.

Insider Activity at Rezolute

In related news, CEO Nevan C. Elam bought 32,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was purchased at an average price of $1.59 per share, with a total value of $50,880.00. Following the completion of the transaction, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This trade represents a 5.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daron Evans purchased 40,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 89,100 shares of company stock valued at $150,232. Corporate insiders own 14.78% of the company’s stock.

Institutional Investors Weigh In On Rezolute

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new stake in shares of Rezolute in the first quarter valued at about $685,000. ProShare Advisors LLC bought a new stake in Rezolute during the 2nd quarter valued at approximately $61,000. Geode Capital Management LLC grew its holdings in Rezolute by 201.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock valued at $7,633,000 after buying an additional 1,143,834 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Rezolute in the 2nd quarter valued at approximately $68,000. Finally, Intech Investment Management LLC bought a new position in Rezolute in the 2nd quarter worth approximately $147,000. 82.97% of the stock is currently owned by institutional investors.

Rezolute Price Performance

Shares of RZLT stock opened at $3.21 on Wednesday. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46. The stock’s 50-day moving average is $2.95 and its two-hundred day moving average is $6.35. The firm has a market cap of $307.20 million, a P/E ratio of -3.45 and a beta of 0.46.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). As a group, research analysts expect that Rezolute will post -0.93 EPS for the current year.

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.