Jonestrading Begins Coverage on Rezolute (NASDAQ:RZLT)

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

Other equities research analysts have also recently issued research reports about the company. Maxim Group started coverage on Rezolute in a research note on Tuesday, April 9th. They issued a buy rating and a $8.00 price target for the company. HC Wainwright reiterated a buy rating and issued a $14.00 target price on shares of Rezolute in a report on Thursday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $8.80.

Rezolute Price Performance

NASDAQ:RZLT opened at $3.43 on Thursday. Rezolute has a one year low of $0.72 and a one year high of $3.63. The company has a market cap of $137.65 million, a PE ratio of -3.12 and a beta of 1.29. The firm’s 50 day simple moving average is $2.05 and its 200 day simple moving average is $1.33.

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

Insider Transactions at Rezolute

In other Rezolute news, Director Young-Jin Kim bought 36,503 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Young-Jin Kim acquired 36,503 shares of the stock in a transaction dated Thursday, March 7th. The stock was bought at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the purchase, the director now directly 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 available through this link. Also, CFO Daron Evans bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $1.69 per share, for a total transaction of $33,800.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at $33,800. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Worth Venture Partners LLC grew its position in Rezolute by 72.5% in the 1st quarter. Worth Venture Partners LLC now owns 104,709 shares of the company’s stock valued at $354,000 after purchasing an additional 43,991 shares during the period. Citadel Advisors LLC lifted its stake in shares of Rezolute by 9.6% in the fourth quarter. Citadel Advisors LLC now owns 346,549 shares of the company’s stock valued at $344,000 after buying an additional 30,285 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Rezolute by 65.2% during the second quarter. Northern Trust Corp now owns 85,097 shares of the company’s stock valued at $274,000 after buying an additional 33,581 shares during the last quarter. UBS Group AG bought a new stake in shares of Rezolute during the fourth quarter worth about $216,000. Finally, State Street Corp raised its holdings in shares of Rezolute by 169.8% in the 2nd quarter. State Street Corp now owns 54,772 shares of the company’s stock worth $177,000 after acquiring an additional 34,472 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.