Rezolute (NASDAQ:RZLT) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Rezolute (NASDAQ:RZLT) in a report published on Wednesday,RTT News reports. Wedbush currently has a $12.00 price target on the stock.

Several other equities research analysts also recently weighed in on the stock. JMP Securities upped their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $12.14.

Rezolute Trading Down 4.9%

Shares of NASDAQ RZLT opened at $3.49 on Wednesday. Rezolute has a 12-month low of $2.22 and a 12-month high of $6.19. The company has a market cap of $211.27 million, a PE ratio of -2.86 and a beta of 1.01. The stock has a 50 day simple moving average of $3.24 and a 200-day simple moving average of $4.34.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). Sell-side analysts forecast that Rezolute will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In related news, CFO Daron Evans purchased 10,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were bought at an average price of $2.89 per share, with a total value of $28,900.00. Following the completion of the acquisition, the chief financial officer now owns 237,900 shares of the company’s stock, valued at approximately $687,531. This represents a 4.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nevan C. Elam acquired 12,302 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $2.85 per share, with a total value of $35,060.70. Following the transaction, the chief executive officer now directly owns 224,119 shares in the company, valued at approximately $638,739.15. The trade was a 5.81% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 39,060 shares of company stock valued at $130,694. 18.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Rezolute

A number of institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. lifted its stake in Rezolute by 699.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock valued at $12,377,000 after buying an additional 2,210,038 shares in the last quarter. Woodline Partners LP lifted its position in shares of Rezolute by 2,817.1% in the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock valued at $5,338,000 after acquiring an additional 1,052,002 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Rezolute by 749.0% in the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after acquiring an additional 788,349 shares in the last quarter. Walleye Capital LLC acquired a new position in Rezolute in the 4th quarter worth approximately $2,408,000. Finally, Nantahala Capital Management LLC grew its position in Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock worth $14,004,000 after purchasing an additional 280,861 shares in 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.