Rezolute Sees Unusually High Options Volume (NASDAQ:RZLT)

Rezolute, Inc. (NASDAQ:RZLT) was the recipient of some unusual options trading activity on Thursday. Stock traders bought 2,877 put options on the company. This represents an increase of 234% compared to the average volume of 862 put options.

Institutional Investors Weigh In On Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its position in Rezolute by 24.4% in the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after purchasing an additional 2,755,385 shares in the last quarter. Vanguard Group Inc. grew its stake in Rezolute by 9.6% in the third quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after purchasing an additional 387,502 shares in the last quarter. Marshall Wace LLP increased its position in shares of Rezolute by 56.4% during the 2nd quarter. Marshall Wace LLP now owns 2,886,481 shares of the company’s stock worth $12,874,000 after purchasing an additional 1,041,234 shares during the last quarter. Mangrove Partners IM LLC boosted its holdings in shares of Rezolute by 25.4% in the 3rd quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock valued at $27,092,000 after buying an additional 584,660 shares during the last quarter. Finally, Nantahala Capital Management LLC grew its stake in shares of Rezolute by 77.4% in the second quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock valued at $10,220,000 after buying an additional 1,000,000 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Trading Up 1.2%

Shares of NASDAQ:RZLT traded up $0.12 during trading on Thursday, hitting $9.59. 549,106 shares of the company’s stock traded hands, compared to its average volume of 1,077,311. The company has a 50-day moving average price of $9.35 and a 200-day moving average price of $6.98. Rezolute has a 52 week low of $2.21 and a 52 week high of $11.46. The company has a market cap of $888.82 million, a price-to-earnings ratio of -10.31 and a beta of 0.21.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. On average, analysts predict that Rezolute will post -0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Guggenheim restated a “buy” rating and set a $15.00 price target on shares of Rezolute in a research report on Monday, September 22nd. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Rezolute in a research note on Wednesday, September 3rd. Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Rezolute in a research report on Thursday, September 18th. Maxim Group increased their price objective on Rezolute from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Finally, Wall Street Zen raised Rezolute from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Rezolute currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

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.