Rezolute, Inc. (NASDAQ:RZLT) Receives Average Rating of “Buy” from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned an average rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.57.

Several research analysts recently issued reports on RZLT shares. Guggenheim began coverage on shares of Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target for the company. Craig Hallum initiated coverage on shares of Rezolute in a research report on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price target on the stock. BTIG Research increased their price target on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Maxim Group increased their price target on shares of Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research report on Monday, September 9th.

Rezolute Stock Performance

Shares of RZLT opened at $4.87 on Thursday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The company has a market capitalization of $195.46 million, a price-to-earnings ratio of -4.27 and a beta of 1.18. The firm has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $3.69.

Institutional Trading of Rezolute

Hedge funds have recently bought and sold shares of the company. Affinity Asset Advisors LLC acquired a new position in shares of Rezolute in the 1st quarter valued at $4,080,000. Federated Hermes Inc. boosted its holdings in shares of Rezolute by 11.1% in the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after purchasing an additional 1,125,000 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Rezolute in the 2nd quarter valued at $4,503,000. Rosalind Advisors Inc. acquired a new position in shares of Rezolute in the 1st quarter valued at $510,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Rezolute by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after purchasing an additional 145,700 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Company 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.