Federated Hermes Inc. Raises Stock Holdings in Rezolute, Inc. (NASDAQ:RZLT)

Federated Hermes Inc. boosted its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT) by 11.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,279,327 shares of the company’s stock after purchasing an additional 1,125,000 shares during the quarter. Federated Hermes Inc. owned approximately 0.28% of Rezolute worth $48,501,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Jeppson Wealth Management LLC bought a new position in Rezolute during the second quarter worth $45,000. Virtu Financial LLC acquired a new stake in shares of Rezolute during the first quarter worth $37,000. Rosalind Advisors Inc. lifted its position in shares of Rezolute by 25.0% in the 2nd quarter. Rosalind Advisors Inc. now owns 250,000 shares of the company’s stock worth $1,075,000 after buying an additional 50,000 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Rezolute in the 1st quarter valued at about $229,000. Finally, Vanguard Group Inc. grew 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 buying an additional 145,700 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Stock Performance

Shares of NASDAQ:RZLT opened at $5.25 on Friday. The firm has a 50 day simple moving average of $4.55 and a 200 day simple moving average of $3.62. Rezolute, Inc. has a 52 week low of $0.72 and a 52 week high of $6.10. The company has a market cap of $210.71 million, a PE ratio of -4.61 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Guggenheim started coverage on shares of Rezolute in a research note on Tuesday, August 27th. They set a “buy” rating and a $11.00 target price for the company. Maxim Group increased their price target on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BTIG Research lifted their price objective on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Monday, September 9th. Finally, Craig Hallum initiated coverage on shares of Rezolute in a research report on Tuesday, June 4th. They set a “buy” rating and a $14.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.75.

Rezolute Profile

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.