Rezolute (NASDAQ:RZLT) Price Target Raised to $10.00

Rezolute (NASDAQ:RZLT) had its price target increased by Maxim Group from $8.00 to $10.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. Jonestrading started coverage on shares of Rezolute in a research note on Thursday, April 18th. They set a buy rating and a $10.00 target price on the stock. BTIG Research started coverage on Rezolute in a research report on Wednesday, July 17th. They set a buy rating and a $13.00 price target on the stock. JMP Securities reaffirmed a market outperform rating and set a $7.00 target price on shares of Rezolute in a research note on Thursday, April 18th. HC Wainwright reiterated a buy rating and issued a $14.00 price target on shares of Rezolute in a research report on Tuesday. Finally, Craig Hallum initiated coverage on shares of Rezolute in a research note on Tuesday, June 4th. They issued a buy rating and a $14.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $10.43.

Rezolute Stock Up 1.2 %

NASDAQ RZLT traded up $0.05 during trading hours on Tuesday, hitting $4.30. The company had a trading volume of 134,071 shares, compared to its average volume of 453,714. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $6.10. The firm has a market cap of $172.58 million, a P/E ratio of -3.93 and a beta of 1.20. The business has a fifty day simple moving average of $4.48 and a 200-day simple moving average of $2.99.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). Equities analysts forecast that Rezolute will post -1.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $4.04 per share, with a total value of $161,600.00. Following the completion of the transaction, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $161,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have bought 57,124 shares of company stock worth $220,314. Corporate insiders own 20.80% of the company’s stock.

Institutional Trading of Rezolute

A number of institutional investors have recently added to or reduced their stakes in RZLT. Federated Hermes Inc. boosted its holdings in Rezolute by 53.6% in the fourth quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock worth $10,083,000 after purchasing an additional 3,544,053 shares in the last quarter. Vivo Capital LLC raised its stake in Rezolute by 569.4% during the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after purchasing an additional 2,758,403 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in Rezolute in the 1st quarter valued at $4,080,000. Rosalind Advisors Inc. acquired a new stake in Rezolute in the 1st quarter worth $510,000. Finally, Vanguard Group Inc. increased its holdings in shares of Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after purchasing an additional 145,700 shares during the period. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.