Rezolute, Inc. (NASDAQ:RZLT) Receives $24.13 Consensus PT from Brokerages

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.13.

Several research firms have recently commented on RZLT. Wedbush reaffirmed an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. BTIG Research upped their target price on Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a report on Friday, September 20th. Guggenheim initiated coverage on Rezolute in a research note on Tuesday, August 27th. They set a “buy” rating and a $11.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Friday, November 8th.

Insiders Place Their Bets

In related news, CFO Daron Evans purchased 9,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were bought at an average cost of $4.60 per share, for a total transaction of $41,400.00. Following the transaction, the chief financial officer now owns 140,900 shares of the company’s stock, valued at $648,140. This represents a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 18.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in Rezolute by 11.1% during the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after purchasing an additional 1,125,000 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Rezolute in the second quarter valued at $4,503,000. Affinity Asset Advisors LLC boosted its stake in Rezolute by 15.6% during the second quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after buying an additional 250,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Rezolute by 39.0% during the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after acquiring an additional 137,905 shares during the period. Finally, Acadian Asset Management LLC raised its position in Rezolute by 104.2% in the second quarter. Acadian Asset Management LLC now owns 184,502 shares of the company’s stock worth $792,000 after acquiring an additional 94,156 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Price Performance

Shares of RZLT opened at $4.44 on Friday. Rezolute has a 12-month low of $0.88 and a 12-month high of $6.19. The business’s fifty day moving average price is $5.12 and its 200 day moving average price is $4.78. The stock has a market capitalization of $257.27 million, a PE ratio of -3.50 and a beta of 1.01.

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.