Rezolute (NASDAQ:RZLT) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Rezolute (NASDAQ:RZLT) in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a $7.00 price objective on the stock.

Several other research firms also recently weighed in on RZLT. Maxim Group began coverage on Rezolute in a report on Tuesday, April 9th. They issued a buy rating and a $8.00 target price for the company. HC Wainwright reaffirmed a buy rating and set a $14.00 price objective on shares of Rezolute in a research note on Thursday, March 7th. Finally, Jonestrading began coverage on Rezolute in a research note on Thursday. They set a buy rating and a $10.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus price target of $8.80.

Rezolute Stock Performance

Rezolute stock opened at $3.30 on Thursday. Rezolute has a fifty-two week low of $0.72 and a fifty-two week high of $3.63. The company has a market capitalization of $132.43 million, a P/E ratio of -3.00 and a beta of 1.29. The stock has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $1.32.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share for the quarter, meeting the consensus estimate of ($0.27). As a group, analysts forecast that Rezolute will post -1.06 earnings per share for the current year.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans bought 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $1.93 per share, with a total value of $96,500.00. Following the purchase, the chief financial officer now owns 120,900 shares in the company, valued at approximately $233,337. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rezolute news, CFO Daron Evans bought 50,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $1.93 per share, with a total value of $96,500.00. Following the purchase, the chief financial officer now owns 120,900 shares in the company, valued at approximately $233,337. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Young-Jin Kim bought 36,503 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were acquired at an average cost of $1.91 per share, with a total value of $69,720.73. Following the completion of the purchase, the director now owns 115,450 shares in the company, valued at approximately $220,509.50. The disclosure for this purchase can be found here. Insiders purchased a total of 179,403 shares of company stock valued at $306,601 in the last ninety days. Insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of large investors have recently modified their holdings of RZLT. Federated Hermes Inc. grew its holdings in shares of Rezolute by 53.6% in the 4th quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock worth $10,083,000 after acquiring an additional 3,544,053 shares during the period. Vivo Capital LLC grew its holdings in shares of Rezolute by 569.4% in the 4th quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock worth $3,219,000 after acquiring an additional 2,758,403 shares during the period. First Manhattan Co. grew its holdings in shares of Rezolute by 72.0% in the 4th quarter. First Manhattan Co. now owns 3,123,078 shares of the company’s stock worth $6,465,000 after acquiring an additional 1,307,273 shares during the period. Stonepine Capital Management LLC grew its holdings in Rezolute by 1.6% during the 4th quarter. Stonepine Capital Management LLC now owns 3,021,504 shares of the company’s stock valued at $6,255,000 after buying an additional 48,299 shares during the last quarter. Finally, Nantahala Capital Management LLC grew its holdings in Rezolute by 99.8% during the 4th quarter. Nantahala Capital Management LLC now owns 1,537,707 shares of the company’s stock valued at $1,526,000 after buying an additional 768,101 shares during the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.