Rezolute (NASDAQ:RZLT) Stock Sees Heavy Call Option Buying

Rezolute, Inc. (NASDAQ:RZLT) was the target of unusually large options trading on Monday. Traders bought 4,099 call options on the company. This is an increase of approximately 618% compared to the typical volume of 571 call options.

Institutional Investors Weigh In On Rezolute

A number of large investors have recently made changes to their positions in RZLT. Jennison Associates LLC bought a new position in shares of Rezolute in the 1st quarter worth approximately $10,489,000. Siren L.L.C. purchased a new stake in Rezolute during the first quarter valued at approximately $10,151,000. Dimensional Fund Advisors LP increased its holdings in Rezolute by 273.7% during the first quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock valued at $1,617,000 after buying an additional 388,346 shares during the last quarter. Knott David M Jr raised its position in Rezolute by 8.8% in the first quarter. Knott David M Jr now owns 370,000 shares of the company’s stock worth $1,128,000 after acquiring an additional 30,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Rezolute in the second quarter worth approximately $1,104,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on RZLT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a report on Tuesday, June 30th. Zacks Research upgraded Rezolute from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. HSBC raised Rezolute to a “buy” rating in a research report on Friday, September 25th. Finally, Craig Hallum raised shares of Rezolute from a “hold” rating to a “buy” rating and raised their price target for the company from $4.00 to $7.00 in a report on Tuesday, September 29th. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.44.

Rezolute Trading Up 8.0%

Shares of RZLT opened at $4.33 on Tuesday. The firm has a market cap of $418.80 million, a PE ratio of -5.70 and a beta of 0.53. The firm has a fifty day simple moving average of $4.48 and a two-hundred day simple moving average of $4.08. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, September 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). As a group, research analysts forecast that Rezolute will post -0.6 EPS for the current fiscal year.

About Rezolute

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company’s research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute’s lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.