Rezolute, Inc. (NASDAQ:RZLT) Given Average Rating of “Moderate Buy” by Brokerages

Rezolute, Inc. (NASDAQ:RZLT) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.3750.

Several research firms have recently weighed in on RZLT. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research note on Friday, July 17th. Wedbush raised their target price on shares of Rezolute from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. HC Wainwright reiterated a “buy” rating on shares of Rezolute in a report on Thursday, July 30th. Citizens Jmp raised Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a research report on Wednesday, June 3rd. Finally, Guggenheim upped their price objective on Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Rezolute by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company’s stock worth $312,000 after buying an additional 1,567 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 valued at $363,000 after buying an additional 2,014 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Rezolute by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,088 shares of the company’s stock valued at $107,000 after acquiring an additional 3,630 shares during the period. AlphaCentric Advisors LLC raised its holdings in Rezolute by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company’s stock valued at $217,000 after acquiring an additional 4,171 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Rezolute in the 2nd quarter valued at about $25,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Trading Down 0.4%

Shares of RZLT opened at $4.66 on Wednesday. The company’s fifty day simple moving average is $4.78 and its 200 day simple moving average is $3.81. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market cap of $448.71 million, a price-to-earnings ratio of -5.68 and a beta of 0.58.

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.