Rezolute, Inc. (NASDAQ:RZLT) Receives $9.78 Consensus Target Price from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has received an average recommendation of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.6667.

RZLT has been the subject of several recent research reports. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Citizens Jmp cut shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price objective on shares of Rezolute in a research note on Friday, December 5th. Finally, HC Wainwright dropped their target price on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a report on Friday, December 12th.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the purchase, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at $736,143. The trade was a 10.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nevan C. Elam purchased 32,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This represents a 5.25% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 89,100 shares of company stock valued at $150,232. Company insiders own 14.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RZLT. SG Americas Securities LLC purchased a new stake in shares of Rezolute in the 4th quarter worth about $150,000. Verition Fund Management LLC bought a new position in Rezolute in the third quarter worth about $327,000. Millennium Management LLC purchased a new stake in Rezolute in the third quarter worth about $1,685,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Rezolute by 5.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock valued at $363,000 after acquiring an additional 2,014 shares in the last quarter. Finally, Jain Global LLC bought a new stake in Rezolute during the 3rd quarter valued at approximately $298,000. 82.97% of the stock is currently owned by institutional investors.

Rezolute Stock Down 4.6%

NASDAQ RZLT opened at $2.51 on Tuesday. The company has a 50-day simple moving average of $6.31 and a two-hundred day simple moving average of $6.89. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46. The firm has a market cap of $232.75 million, a price-to-earnings ratio of -2.70 and a beta of 0.39.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. Equities analysts expect that Rezolute will post -0.93 earnings per share for the current fiscal 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.