Traders Buy Large Volume of Put Options on Rezolute (NASDAQ:RZLT)

Rezolute, Inc. (NASDAQ:RZLT) was the recipient of some unusual options trading on Thursday. Stock traders purchased 2,877 put options on the company. This is an increase of approximately 234% compared to the average daily volume of 862 put options.

Rezolute Stock Up 1.2%

RZLT stock traded up $0.12 during midday trading on Thursday, hitting $9.59. 549,106 shares of the company traded hands, compared to its average volume of 1,077,311. The business has a 50 day simple moving average of $9.35 and a 200-day simple moving average of $6.98. Rezolute has a twelve month low of $2.21 and a twelve month high of $11.46. The stock has a market capitalization of $888.82 million, a price-to-earnings ratio of -10.31 and a beta of 0.21.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. Equities research analysts forecast that Rezolute will post -0.93 EPS for the current year.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. lifted its holdings in shares of Rezolute by 24.4% during the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock worth $62,595,000 after acquiring an additional 2,755,385 shares during the period. Balyasny Asset Management L.P. bought a new position in Rezolute during the third quarter worth about $17,134,000. Rosalind Advisors Inc. bought a new stake in shares of Rezolute in the 2nd quarter valued at approximately $7,766,000. Bank of America Corp DE raised its holdings in shares of Rezolute by 1,578.5% in the 3rd quarter. Bank of America Corp DE now owns 1,284,962 shares of the company’s stock worth $12,079,000 after buying an additional 1,208,408 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after buying an additional 1,143,834 shares during the period. Institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RZLT. Maxim Group upped their target price on Rezolute from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. BTIG Research restated a “buy” rating and issued a $17.00 price objective on shares of Rezolute in a report on Thursday, November 20th. Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rezolute in a research report on Thursday, September 18th. Citigroup reiterated an “outperform” rating on shares of Rezolute in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Rezolute from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

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.