HC Wainwright Reaffirms “Buy” Rating for Rezolute (NASDAQ:RZLT)

HC Wainwright restated their buy rating on shares of Rezolute (NASDAQ:RZLT) in a research note published on Monday, Benzinga reports. They currently have a $14.00 target price on the stock.

A number of other research firms also recently commented on RZLT. Guggenheim initiated coverage on Rezolute in a research report on Tuesday, August 27th. They set a buy rating and a $11.00 target price on the stock. Craig Hallum started coverage on shares of Rezolute in a research report on Tuesday, June 4th. They issued a buy rating and a $14.00 price objective on the stock. BTIG Research started coverage on shares of Rezolute in a report on Wednesday, July 17th. They set a buy rating and a $13.00 target price for the company. Finally, Maxim Group upped their price target on shares of Rezolute from $8.00 to $10.00 and gave the company a buy rating in a report on Tuesday, August 6th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and an average target price of $10.50.

Rezolute Trading Up 22.1 %

RZLT stock opened at $5.31 on Monday. The firm has a 50 day moving average of $4.47 and a 200-day moving average of $3.53. The company has a market cap of $293.96 million, a price-to-earnings ratio of -4.66 and a beta of 1.18. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10.

Insider Activity

In other news, CFO Daron Evans bought 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $4.04 per share, for a total transaction of $161,600.00. Following the completion of the transaction, the chief financial officer now owns 40,000 shares in the company, valued at $161,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 49,115 shares of company stock valued at $198,395 over the last 90 days. Insiders own 20.80% of the company’s stock.

Institutional Trading of Rezolute

Hedge funds have recently added to or reduced their stakes in the business. Affinity Asset Advisors LLC purchased a new position in shares of Rezolute during the 1st quarter worth about $4,080,000. Federated Hermes Inc. increased its position in 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 purchasing an additional 1,125,000 shares during the last quarter. Marshall Wace LLP purchased a new position in Rezolute during the second quarter worth approximately $4,503,000. Rosalind Advisors Inc. acquired a new position in shares of Rezolute in the 1st quarter valued at $510,000. Finally, Vanguard Group Inc. grew its stake 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 valued at $3,961,000 after buying an additional 145,700 shares during the period. 82.97% of the stock is 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.