Rezolute, Inc. (NASDAQ:RZLT) Given Average Recommendation of “Hold” by Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average rating of “Hold” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.7778.

A number of equities analysts have weighed in on RZLT shares. Cantor Fitzgerald downgraded shares of Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. Guggenheim reduced their price objective on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 target price on shares of Rezolute in a report on Friday, December 5th. Finally, Craig Hallum downgraded Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a report on Thursday, December 11th.

Rezolute Trading Up 23.9%

Shares of RZLT stock opened at $2.02 on Friday. The company’s fifty day moving average price is $8.87 and its 200-day moving average price is $7.16. The stock has a market cap of $187.31 million, a PE ratio of -2.17 and a beta of 0.21. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09. On average, sell-side analysts forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average price of $1.77 per share, for a total transaction of $70,800.00. Following the completion of the acquisition, the chief financial officer directly owned 415,900 shares in the company, valued at $736,143. This represents a 10.64% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam purchased 32,000 shares of Rezolute stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average cost of $1.59 per share, with a total value of $50,880.00. Following the transaction, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This represents a 5.25% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 89,100 shares of company stock worth $150,232 over the last three months. 14.78% of the stock is currently owned by insiders.

Institutional Trading of Rezolute

Institutional investors have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in shares of Rezolute in the 3rd quarter worth $327,000. Millennium Management LLC purchased a new stake in shares of Rezolute during the third quarter valued at $1,685,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Rezolute by 5.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock worth $363,000 after buying an additional 2,014 shares in the last quarter. Jain Global LLC bought a new stake in Rezolute in the 3rd quarter worth about $298,000. Finally, Fred Alger Management LLC purchased a new position in Rezolute in the 3rd quarter worth about $5,240,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.