Guggenheim Reaffirms “Buy” Rating for Rezolute (NASDAQ:RZLT)

Rezolute (NASDAQ:RZLT)‘s stock had its “buy” rating reiterated by investment analysts at Guggenheim in a research report issued on Monday,Benzinga reports.

Several other analysts also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $112.00 price target on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Rezolute in a research report on Wednesday, February 5th. Finally, Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $24.13.

Rezolute Trading Down 1.2 %

RZLT stock opened at $4.78 on Monday. The firm has a market cap of $276.95 million, a PE ratio of -3.76 and a beta of 1.10. Rezolute has a 1 year low of $1.04 and a 1 year high of $6.19. The company has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $4.90.

Insider Activity at Rezolute

In other news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $4.60 per share, with a total value of $41,400.00. Following the acquisition, the chief financial officer now owns 140,900 shares of the company’s stock, valued at $648,140. This trade represents a 6.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 18.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RZLT. Geode Capital Management LLC increased its holdings in Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after buying an additional 137,905 shares during the period. Exome Asset Management LLC increased its stake in Rezolute by 24.7% in the third quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock valued at $1,707,000 after acquiring an additional 69,656 shares during the period. State Street Corp raised its position in Rezolute by 11.6% in the third quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after purchasing an additional 13,000 shares in the last quarter. American Century Companies Inc. lifted its stake in Rezolute by 62.1% during the fourth quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock worth $316,000 after purchasing an additional 24,742 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in Rezolute during the second quarter valued at approximately $255,000. 82.97% of the stock is owned by institutional investors.

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.