Rezolute, Inc. (NASDAQ:RZLT) Given Average Recommendation of “Buy” by Brokerages

Rezolute, Inc. (NASDAQ:RZLT) has been assigned an average recommendation of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $24.13.

RZLT has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. BTIG Research upped their target price on Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a research note on Friday, September 20th. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Friday, November 8th.

Insider Buying and Selling

In related news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $4.60 per share, for a total transaction of $41,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 140,900 shares of the company’s stock, valued at approximately $648,140. This trade represents a 6.82 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. increased its position in shares of Rezolute by 11.1% during the second quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock worth $48,501,000 after buying an additional 1,125,000 shares during the period. Affinity Asset Advisors LLC boosted its position in Rezolute by 15.6% during the second quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after acquiring an additional 250,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in Rezolute during the 2nd quarter worth about $4,503,000. Geode Capital Management LLC raised its position in shares of Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after acquiring an additional 137,905 shares in the last quarter. Finally, Exome Asset Management LLC lifted its stake in shares of Rezolute by 24.7% in the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after purchasing an additional 69,656 shares during the period. Institutional investors own 82.97% of the company’s stock.

Rezolute Stock Down 0.7 %

RZLT stock opened at $4.41 on Friday. The company has a market cap of $255.53 million, a PE ratio of -3.47 and a beta of 1.01. Rezolute has a 52 week low of $0.88 and a 52 week high of $6.19. The business has a 50-day simple moving average of $5.11 and a 200 day simple moving average of $4.76.

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.