Jonestrading Begins Coverage on Rezolute (NASDAQ:RZLT)

Analysts at Jonestrading began coverage on shares of Rezolute (NASDAQ:RZLT) in a note issued to investors on Thursday, Benzinga reports. The brokerage set a “buy” rating and a $10.00 price target on the stock. Jonestrading’s price target suggests a potential upside of 208.64% from the stock’s current price.

Several other equities analysts have also weighed in on RZLT. Maxim Group initiated coverage on Rezolute in a research note on Tuesday, April 9th. They issued a “buy” rating and a $8.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Thursday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $8.80.

Rezolute Trading Down 4.7 %

Shares of NASDAQ:RZLT opened at $3.24 on Thursday. The company has a market capitalization of $130.02 million, a PE ratio of -2.95 and a beta of 1.29. Rezolute has a 12-month low of $0.72 and a 12-month high of $3.63. The business’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $1.30.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, hitting analysts’ consensus estimates of ($0.27). Research analysts predict that Rezolute will post -1.06 EPS for the current year.

Insider Activity at Rezolute

In other Rezolute news, Director Young-Jin Kim acquired 36,503 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average cost of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the acquisition, the director now owns 115,450 shares of the company’s stock, valued at approximately $220,509.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Daron Evans purchased 50,000 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the completion of the purchase, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at $233,337. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Young-Jin Kim acquired 36,503 shares of Rezolute stock in a transaction dated Thursday, March 7th. The stock was bought at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the purchase, the director now owns 115,450 shares of the company’s stock, valued at approximately $220,509.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 179,403 shares of company stock worth $306,601. Insiders own 18.20% of the company’s stock.

Institutional Trading of Rezolute

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Rezolute by 3.2% in the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock valued at $1,162,000 after buying an additional 10,500 shares during the last quarter. State Street Corp acquired a new stake in shares of Rezolute during the first quarter worth about $69,000. Worth Venture Partners LLC lifted its position in Rezolute by 72.5% in the first quarter. Worth Venture Partners LLC now owns 104,709 shares of the company’s stock valued at $354,000 after purchasing an additional 43,991 shares during the period. Northern Trust Corp lifted its position in Rezolute by 65.2% in the second quarter. Northern Trust Corp now owns 85,097 shares of the company’s stock valued at $274,000 after purchasing an additional 33,581 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Rezolute in the second quarter valued at about $58,000. 82.97% of the stock is currently 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.