Analysts Set Rezolute, Inc. (NASDAQ:RZLT) PT at $9.67

Rezolute, Inc. (NASDAQ:RZLT) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.67.

RZLT has been the topic of several research reports. Craig Hallum initiated coverage on shares of Rezolute in a research note on Tuesday, June 4th. They set a “buy” rating and a $14.00 price objective on the stock. Jonestrading initiated coverage on shares of Rezolute in a research note on Thursday, April 18th. They issued a “buy” rating and a $10.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday, May 22nd. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a research note on Thursday, April 18th. Finally, Maxim Group began coverage on shares of Rezolute in a report on Tuesday, April 9th. They issued a “buy” rating and a $8.00 price objective for the company.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $4.04 per share, for a total transaction of $161,600.00. Following the acquisition, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $161,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 57,124 shares of company stock worth $220,314 in the last quarter. 20.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Rezolute by 53.6% in the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock worth $10,083,000 after purchasing an additional 3,544,053 shares during the last quarter. Vivo Capital LLC boosted its position in shares of Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after acquiring an additional 2,758,403 shares in the last quarter. Rosalind Advisors Inc. acquired a new stake in shares of Rezolute during the 1st quarter valued at about $510,000. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 145,700 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Rezolute during the 1st quarter valued at about $229,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Stock Performance

Shares of Rezolute stock opened at $4.31 on Friday. The firm has a market cap of $172.98 million, a PE ratio of -3.81 and a beta of 1.31. The firm’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $2.31. Rezolute has a 1 year low of $0.72 and a 1 year high of $6.10.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, May 15th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, equities analysts predict that Rezolute will post -1.15 earnings per share for the current year.

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.