Rezolute’s (RZLT) “Buy” Rating Reaffirmed at HC Wainwright

Rezolute (NASDAQ:RZLT)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They presently have a $14.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 192.58% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a research report on Monday, November 4th. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday. Finally, JMP Securities upped their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $24.38.

Rezolute Stock Performance

NASDAQ:RZLT traded down $0.08 during midday trading on Thursday, reaching $4.79. 202,996 shares of the stock traded hands, compared to its average volume of 545,124. Rezolute has a 12 month low of $1.06 and a 12 month high of $6.19. The company has a fifty day moving average of $4.88 and a 200 day moving average of $4.90. The stock has a market capitalization of $277.24 million, a P/E ratio of -3.77 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, analysts predict that Rezolute will post -0.99 EPS for the current fiscal year.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 150,900 shares in the company, valued at approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 18.39% of the stock is owned by company insiders.

Institutional Trading of Rezolute

A number of hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Rezolute during the 3rd quarter worth $42,000. MML Investors Services LLC purchased a new position in shares of Rezolute in the 3rd quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rezolute during the 3rd quarter worth approximately $65,000. Charles Schwab Investment Management Inc. boosted its stake in Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in Rezolute by 58.0% in the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after purchasing an additional 9,551 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.