Rezolute (NASDAQ:RZLT) Now Covered by Analysts at Jonestrading

Jonestrading initiated coverage on shares of Rezolute (NASDAQ:RZLT) in a report released on Thursday morning, Benzinga reports. The brokerage issued a buy rating and a $10.00 target price on the stock.

RZLT has been the subject of several other reports. HC Wainwright restated a buy rating and set a $14.00 price objective on shares of Rezolute in a research note on Thursday, March 7th. Maxim Group initiated coverage on shares of Rezolute in a research note on Tuesday, April 9th. They set a buy rating and a $8.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rezolute currently has an average rating of Buy and a consensus target price of $8.80.

Rezolute Stock Up 1.9 %

RZLT stock opened at $3.30 on Thursday. The firm has a 50 day moving average of $2.00 and a 200 day moving average of $1.32. The stock has a market capitalization of $132.43 million, a PE ratio of -3.00 and a beta of 1.29. Rezolute has a 52 week low of $0.72 and a 52 week high of $3.63.

Rezolute (NASDAQ:RZLT) last released its earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, hitting analysts’ consensus estimates of ($0.27). On average, equities research analysts expect that Rezolute will post -1.06 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Daron Evans purchased 50,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $233,337. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Young-Jin Kim acquired 36,503 shares of Rezolute stock in a transaction 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 transaction, the director now owns 115,450 shares of the company’s stock, valued at approximately $220,509.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daron Evans acquired 50,000 shares of Rezolute stock in a transaction on Friday, March 8th. The shares were bought at an average price of $1.93 per share, with a total value of $96,500.00. Following the completion of the transaction, the chief financial officer now directly owns 120,900 shares of the company’s stock, valued at approximately $233,337. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 179,403 shares of company stock valued at $306,601. Corporate insiders own 18.20% of the company’s stock.

Hedge Funds Weigh In On Rezolute

A number of large investors have recently added to or reduced their stakes in RZLT. Federated Hermes Inc. raised its position in shares of 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 buying an additional 3,544,053 shares during the last quarter. Northern Trust Corp increased its position in Rezolute by 15.0% during the second quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock worth $170,000 after purchasing an additional 11,219 shares during the last quarter. FMR LLC acquired a new stake in Rezolute during the first quarter worth about $39,000. Stonepine Capital Management LLC increased its position in Rezolute by 1.6% during the fourth quarter. Stonepine Capital Management LLC now owns 3,021,504 shares of the company’s stock worth $6,255,000 after purchasing an additional 48,299 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Rezolute during the fourth quarter worth about $32,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.