Rezolute, Inc. (NASDAQ:RZLT) Receives $24.13 Average Target Price from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have received a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $24.13.

A number of research analysts have recently issued reports on RZLT shares. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and set a $112.00 target price on shares of Rezolute in a research report on Monday, November 4th.

Insider Buying and Selling

In other news, CFO Daron Evans bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $4.29 per share, with a total value of $42,900.00. Following the purchase, the chief financial officer now owns 150,900 shares of the company’s stock, valued at $647,361. This trade represents a 7.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Several large investors have recently added to or reduced their stakes in RZLT. Marshall Wace LLP purchased a new position in shares of Rezolute in the 2nd quarter worth about $4,503,000. Affinity Asset Advisors LLC lifted its holdings in shares of Rezolute by 15.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after acquiring an additional 250,000 shares in the last quarter. Geode Capital Management LLC boosted its position in Rezolute by 39.0% during the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after purchasing an additional 137,905 shares during the period. Acadian Asset Management LLC increased its holdings in Rezolute by 104.2% in the 2nd quarter. Acadian Asset Management LLC now owns 184,502 shares of the company’s stock valued at $792,000 after purchasing an additional 94,156 shares in the last quarter. Finally, Exome Asset Management LLC lifted its stake in shares of Rezolute by 24.7% during the third quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock worth $1,707,000 after purchasing an additional 69,656 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Rezolute Trading Up 1.0 %

Rezolute stock opened at $4.92 on Wednesday. The stock has a 50 day moving average of $4.93 and a two-hundred day moving average of $4.84. Rezolute has a twelve month low of $0.92 and a twelve month high of $6.19. The stock has a market capitalization of $285.08 million, a price-to-earnings ratio of -3.87 and a beta of 1.08.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. Equities analysts predict that Rezolute will post -0.99 earnings per share 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.