Rezolute (NASDAQ:RZLT) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Rezolute (NASDAQ:RZLTFree Report) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $14.00 price objective on the stock.

RZLT has been the topic of several other reports. Maxim Group started coverage on shares of Rezolute in a report on Tuesday, April 9th. They set a buy rating and a $8.00 price objective on the stock. Jonestrading initiated coverage on shares of Rezolute in a report on Thursday, April 18th. They issued a buy rating and a $10.00 price target on the stock. Finally, JMP Securities reissued a market outperform rating and issued a $7.00 price target on shares of Rezolute in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $8.80.

View Our Latest Report on RZLT

Rezolute Stock Up 3.1 %

NASDAQ RZLT opened at $2.64 on Thursday. The company has a market cap of $105.94 million, a PE ratio of -2.32 and a beta of 1.29. Rezolute has a 52 week low of $0.72 and a 52 week high of $3.69. The firm’s 50-day simple moving average is $2.57 and its two-hundred day simple moving average is $1.59.

Insider Transactions at Rezolute

In other news, CFO Daron Evans purchased 50,000 shares of the stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $1.93 per share, with a total value of $96,500.00. Following the completion of the acquisition, 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 available at this link. In related news, CFO Daron Evans bought 50,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $1.93 per share, with a total value of $96,500.00. Following the completion of the purchase, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at approximately $233,337. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Young-Jin Kim bought 36,503 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was bought at an average cost of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the purchase, the director now directly owns 115,450 shares of the company’s stock, valued at $220,509.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 130,503 shares of company stock valued at $242,961. 20.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vivo Capital LLC raised its stake in Rezolute by 569.4% in the fourth quarter. Vivo Capital LLC now owns 3,242,842 shares of the company’s stock valued at $3,219,000 after purchasing an additional 2,758,403 shares in the last quarter. Federated Hermes Inc. raised its stake in Rezolute by 53.6% in the fourth quarter. Federated Hermes Inc. now owns 10,154,327 shares of the company’s stock valued at $10,083,000 after purchasing an additional 3,544,053 shares in the last quarter. Vanguard Group Inc. raised its stake in Rezolute by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after purchasing an additional 145,700 shares in the last quarter. Acadian Asset Management LLC bought a new position in Rezolute during the first quarter valued at approximately $229,000. Finally, Affinity Asset Advisors LLC bought a new position in Rezolute during the first quarter valued at approximately $4,080,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Rezolute Company Profile

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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.

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Analyst Recommendations for Rezolute (NASDAQ:RZLT)

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