Rezolute (NASDAQ:RZLT) Earns Buy Rating from Analysts at Maxim Group

Analysts at Maxim Group began coverage on shares of Rezolute (NASDAQ:RZLT) in a report issued on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $8.00 price target on the stock. Maxim Group’s target price points to a potential upside of 216.21% from the company’s current price.

Separately, HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday, March 7th.

Rezolute Price Performance

Shares of RZLT opened at $2.53 on Tuesday. The company has a market capitalization of $100.24 million, a P/E ratio of -2.30 and a beta of 1.29. Rezolute has a one year low of $0.72 and a one year high of $2.73. The business’s 50 day simple moving average is $1.71 and its 200-day simple moving average is $1.23.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, hitting the consensus estimate of ($0.27). On average, sell-side analysts anticipate that Rezolute will post -1.06 EPS for the current fiscal year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans bought 41,900 shares of the company’s stock in a transaction on Friday, February 16th. The stock was bought at an average price of $1.30 per share, for a total transaction of $54,470.00. Following the transaction, the chief financial officer now owns 70,900 shares of the company’s stock, valued at approximately $92,170. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Rezolute news, CFO Daron Evans bought 41,900 shares of the company’s stock in a transaction on Friday, February 16th. The stock was bought at an average price of $1.30 per share, for a total transaction of $54,470.00. Following the transaction, the chief financial officer now owns 70,900 shares of the company’s stock, valued at approximately $92,170. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Young-Jin Kim bought 36,503 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were acquired at an average price of $1.91 per share, with a total value of $69,720.73. Following the transaction, the director now directly owns 115,450 shares in the company, valued at approximately $220,509.50. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 179,403 shares of company stock worth $306,601. Insiders own 18.20% of the company’s stock.

Institutional Trading of Rezolute

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Rezolute by 3.2% in the 1st 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 in the last quarter. Northern Trust Corp boosted its stake in Rezolute by 15.0% in the 2nd quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock worth $170,000 after purchasing an additional 11,219 shares during the period. Millennium Management LLC acquired a new position in Rezolute in the 4th quarter worth $32,000. Renaissance Technologies LLC acquired a new position in Rezolute in the 2nd quarter worth $58,000. Finally, FMR LLC acquired a new position in Rezolute in the 1st quarter worth $39,000. Institutional investors own 82.97% of the company’s stock.

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.