Rezolute’s (RZLT) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Rezolute (NASDAQ:RZLTFree Report) in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

Several other brokerages have also recently issued reports on RZLT. Maxim Group began coverage on Rezolute in a report on Tuesday, April 9th. They set a buy rating and a $8.00 price objective on the stock. JMP Securities reaffirmed a market outperform rating and set a $7.00 price objective on shares of Rezolute in a report on Thursday, April 18th. Finally, Jonestrading started coverage on Rezolute in a report on Thursday, April 18th. They set a buy rating and a $10.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rezolute has a consensus rating of Buy and a consensus target price of $8.80.

Read Our Latest Stock Report on Rezolute

Rezolute Price Performance

Shares of RZLT opened at $2.64 on Thursday. The stock has a market capitalization of $105.96 million, a price-to-earnings ratio of -2.32 and a beta of 1.29. Rezolute has a 1 year low of $0.72 and a 1 year high of $3.69. The business’s 50 day simple moving average is $2.57 and its 200-day simple moving average is $1.60.

Insider Buying and Selling

In related news, CFO Daron Evans purchased 50,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the completion of the transaction, the chief financial officer now directly owns 120,900 shares in the company, valued at $233,337. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Daron Evans purchased 50,000 shares of Rezolute stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average price of $1.93 per share, with a total value of $96,500.00. Following the purchase, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at approximately $233,337. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Young-Jin Kim purchased 36,503 shares of Rezolute stock in a transaction that occurred on Thursday, March 7th. The stock was bought at an average cost of $1.91 per share, for a total transaction of $69,720.73. Following the purchase, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The disclosure for this purchase can be found here. Insiders purchased a total of 130,503 shares of company stock worth $242,961 over the last three months. 20.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Rezolute

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Rezolute during the 1st quarter worth $229,000. Rosalind Advisors Inc. bought a new position in Rezolute during the 1st quarter worth about $510,000. Vanguard Group Inc. increased its position in Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after purchasing an additional 145,700 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Rezolute in the 1st quarter valued at about $4,080,000. Finally, Vivo Capital LLC lifted its position in shares of Rezolute by 569.4% in the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock worth $3,219,000 after purchasing an additional 2,758,403 shares during the period. 82.97% of the stock is owned by institutional investors.

Rezolute Company Profile

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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.

Further Reading

Analyst Recommendations for Rezolute (NASDAQ:RZLT)

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