Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $9.3750.

Several research analysts have weighed in on the company. Citizens Jmp upgraded Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Wednesday, June 3rd. Maxim Group boosted their target price on shares of Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. HC Wainwright restated a “buy” rating on shares of Rezolute in a research note on Thursday, July 30th. Wedbush raised their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, BTIG Research raised their target price on shares of Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd.

Institutional Trading of Rezolute

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. increased its position in shares of Rezolute by 17.8% in the fourth quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock worth $39,022,000 after purchasing an additional 2,500,000 shares during the period. RA Capital Management L.P. bought a new stake in Rezolute during the fourth quarter worth about $21,665,000. Opaleye Management Inc. lifted its position in Rezolute by 595.9% during the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after purchasing an additional 5,383,714 shares during the period. Balyasny Asset Management L.P. lifted its position in Rezolute by 147.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock worth $10,636,000 after purchasing an additional 2,684,133 shares during the period. Finally, Vanguard Group Inc. grew its stake in Rezolute by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock worth $41,455,000 after buying an additional 387,502 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors.

Rezolute Price Performance

RZLT opened at $4.66 on Wednesday. The business has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $3.81. The company has a market capitalization of $448.71 million, a PE ratio of -5.68 and a beta of 0.58. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46.

About Rezolute

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.