Brokerages Set Rezolute, Inc. (NASDAQ:RZLT) PT at $9.78

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given an average rating of “Hold” by the twelve analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.6667.

Several research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. BTIG Research restated a “buy” rating and issued a $5.00 target price on shares of Rezolute in a report on Thursday. HC Wainwright lowered their price target on Rezolute from $14.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Finally, Citigroup downgraded Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th.

Rezolute Stock Up 11.0%

Shares of NASDAQ RZLT opened at $2.63 on Tuesday. The stock’s fifty day simple moving average is $6.44 and its 200 day simple moving average is $6.89. The stock has a market capitalization of $243.88 million, a price-to-earnings ratio of -2.83 and a beta of 0.39. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. As a group, analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Daron Evans acquired 40,000 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average cost of $1.77 per share, with a total value of $70,800.00. Following the completion of the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nevan C. Elam bought 32,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was bought at an average price of $1.59 per share, with a total value of $50,880.00. Following the transaction, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. This represents a 5.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 89,100 shares of company stock valued at $150,232 over the last three months. 14.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in shares of Rezolute during the 2nd quarter worth about $25,000. Ameritas Investment Partners Inc. acquired a new position in Rezolute in the second quarter worth approximately $30,000. Legal & General Group Plc acquired a new position in Rezolute in the second quarter worth approximately $32,000. Raymond James Financial Inc. bought a new position in Rezolute during the second quarter valued at approximately $46,000. Finally, ProShare Advisors LLC acquired a new stake in Rezolute in the second quarter valued at approximately $61,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.