Wedbush Reaffirms Outperform Rating for Rezolute (NASDAQ:RZLT)

Rezolute (NASDAQ:RZLT)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report released on Monday, Marketbeat.com reports. They currently have a $112.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the company. Guggenheim began coverage on Rezolute in a research note on Tuesday, August 27th. They set a “buy” rating and a $11.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $7.00 target price on shares of Rezolute in a research note on Friday, September 20th. BTIG Research raised their price target on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Friday, September 27th. Finally, Maxim Group increased their price objective on Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.13.

Rezolute Stock Performance

Shares of RZLT stock opened at $5.44 on Monday. Rezolute has a 52-week low of $0.72 and a 52-week high of $6.10. The company has a 50-day simple moving average of $4.99 and a two-hundred day simple moving average of $4.35. The company has a market capitalization of $304.26 million, a price-to-earnings ratio of -4.09 and a beta of 1.18.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). On average, sell-side analysts forecast that Rezolute will post -1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jeppson Wealth Management LLC bought a new position in Rezolute during the 2nd quarter valued at approximately $45,000. Virtu Financial LLC purchased a new stake in Rezolute in the first quarter worth $37,000. XTX Topco Ltd raised its holdings in Rezolute by 205.8% in the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after purchasing an additional 22,660 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after buying an additional 42,597 shares during the period. Finally, Rosalind Advisors Inc. grew 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 period. 82.97% of the stock is currently owned by institutional investors.

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.