Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $7.6250.

Several research analysts have weighed in on the stock. Maxim Group set a $4.00 price objective on shares of Rezolute in a research note on Friday, December 12th. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Guggenheim reduced their price objective on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Jefferies Financial Group restated a “buy” rating and issued a $20.00 target price on shares of Rezolute in a research note on Friday, December 5th. Finally, Cantor Fitzgerald downgraded Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th.

Insider Activity at Rezolute

In other Rezolute news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average price of $1.77 per share, for a total transaction of $70,800.00. Following the acquisition, the chief financial officer owned 415,900 shares of the company’s stock, valued at $736,143. This trade represents a 10.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Nevan C. Elam acquired 32,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average price of $1.59 per share, with a total value of $50,880.00. Following the completion of the acquisition, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This represents a 5.25% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 89,100 shares of company stock worth $150,232. Insiders own 14.78% of the company’s stock.

Institutional Trading of Rezolute

Institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its holdings in Rezolute by 24.4% during 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 during the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Rezolute during the 2nd quarter worth $977,000. Geode Capital Management LLC grew its stake in Rezolute by 201.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock valued at $7,633,000 after buying an additional 1,143,834 shares during the last quarter. Marshall Wace LLP grew its stake in Rezolute by 56.4% in the 2nd quarter. Marshall Wace LLP now owns 2,886,481 shares of the company’s stock valued at $12,874,000 after buying an additional 1,041,234 shares during the last quarter. Finally, Affinity Asset Advisors LLC raised its holdings in Rezolute by 29.4% in the 2nd quarter. Affinity Asset Advisors LLC now owns 2,200,000 shares of the company’s stock worth $9,812,000 after acquiring an additional 500,000 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Trading Down 2.4%

Shares of Rezolute stock opened at $3.21 on Wednesday. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The company has a market cap of $307.20 million, a P/E ratio of -3.45 and a beta of 0.51. The stock has a 50-day moving average price of $2.95 and a 200 day moving average price of $6.35.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Thursday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). On average, equities analysts forecast 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.