Rezolute, Inc. (NASDAQ:RZLT) Receives Average Recommendation of “Hold” from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.6667.

RZLT has been the topic of several recent research reports. Citigroup downgraded shares of Rezolute from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 11th. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 target price on shares of Rezolute in a research report on Friday, December 5th. Guggenheim cut their price target on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a report on Friday, December 12th. Citizens Jmp downgraded Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Finally, Maxim Group set a $4.00 price objective on Rezolute in a research report on Friday, December 12th.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 40,000 shares of Rezolute stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of $1.77 per share, with a total value of $70,800.00. Following the completion of the purchase, the chief financial officer directly owned 415,900 shares in the company, valued at approximately $736,143. This trade represents a 10.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nevan C. Elam acquired 32,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the completion of the transaction, the chief executive officer directly owned 641,119 shares in the company, valued at approximately $1,019,379.21. This trade represents a 5.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 89,100 shares of company stock valued at $150,232. Company insiders own 14.78% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of hedge funds have recently made changes to their positions in RZLT. Federated Hermes Inc. grew its position in shares of Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock worth $62,595,000 after purchasing an additional 2,755,385 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Rezolute during the 3rd quarter valued at approximately $17,134,000. Rosalind Advisors Inc. bought a new stake in shares of Rezolute during the second quarter valued at approximately $7,766,000. Bank of America Corp DE lifted its holdings in shares of Rezolute by 1,578.5% in the third quarter. Bank of America Corp DE now owns 1,284,962 shares of the company’s stock worth $12,079,000 after buying an additional 1,208,408 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Rezolute by 201.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after purchasing an additional 1,143,834 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Rezolute Stock Up 2.8%

NASDAQ RZLT opened at $3.34 on Friday. The company has a 50-day moving average price of $4.40 and a 200-day moving average price of $6.69. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46. The firm has a market capitalization of $309.72 million, a P/E ratio of -3.59 and a beta of 0.39.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. As a group, equities research analysts anticipate that Rezolute will post -0.93 EPS for the current year.

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