Rezolute (NASDAQ:RZLT) Now Covered by Jonestrading

Jonestrading started coverage on shares of Rezolute (NASDAQ:RZLT) in a research note issued to investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. Jonestrading’s price target suggests a potential upside of 191.55% from the stock’s current price.

A number of other equities analysts have also weighed in on RZLT. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Thursday, March 7th. Maxim Group assumed coverage on Rezolute in a research note on Tuesday, April 9th. They set a “buy” rating and a $8.00 target price on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $8.80.

Rezolute Stock Up 3.9 %

NASDAQ:RZLT opened at $3.43 on Thursday. The stock’s 50 day moving average price is $2.05 and its two-hundred day moving average price is $1.33. The firm has a market capitalization of $137.65 million, a price-to-earnings ratio of -3.12 and a beta of 1.29. Rezolute has a 12-month low of $0.72 and a 12-month high of $3.63.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.27). Equities research analysts expect that Rezolute will post -1.06 EPS for the current year.

Insider Transactions at Rezolute

In related news, CFO Daron Evans acquired 41,900 shares of the stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $1.30 per share, for a total transaction of $54,470.00. Following the purchase, the chief financial officer now directly owns 70,900 shares in the company, valued at $92,170. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Daron Evans acquired 41,900 shares of the stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $1.30 per share, for a total transaction of $54,470.00. Following the purchase, the chief financial officer now directly owns 70,900 shares in the company, valued at $92,170. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Young-Jin Kim acquired 36,503 shares of the stock in a transaction on Thursday, March 7th. The shares were bought at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the purchase, the director now owns 115,450 shares in the company, valued at $220,509.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 179,403 shares of company stock worth $306,601. Company insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. Millennium Management LLC acquired a new stake in shares of Rezolute in the 4th quarter valued at $32,000. FMR LLC acquired a new stake in shares of Rezolute in the 1st quarter valued at $39,000. Renaissance Technologies LLC acquired a new stake in shares of Rezolute in the 2nd quarter valued at $58,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Rezolute in the 4th quarter valued at $67,000. Finally, State Street Corp acquired a new stake in shares of Rezolute in the 1st quarter valued at $69,000. Institutional investors own 82.97% of the company’s stock.

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.