Rezolute, Inc. (NASDAQ:RZLT) Receives $24.13 Average Price Target from Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have earned an average recommendation of “Buy” from the eight research firms that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $24.13.

A number of equities analysts have weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $112.00 target price on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Friday, November 8th.

Insider Buying and Selling at Rezolute

In related news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired 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 directly owns 140,900 shares in the company, valued at $648,140. This represents a 6.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 18.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Rezolute

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC raised its holdings in Rezolute by 104.2% in the 2nd quarter. Acadian Asset Management LLC now owns 184,502 shares of the company’s stock valued at $792,000 after acquiring an additional 94,156 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Rezolute during the 2nd quarter worth approximately $255,000. XTX Topco Ltd grew its position in Rezolute by 205.8% in the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after acquiring an additional 22,660 shares during the period. Marshall Wace LLP purchased a new stake in Rezolute in the second quarter valued at $4,503,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock valued at $233,000 after acquiring an additional 42,597 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Rezolute Price Performance

Shares of RZLT opened at $4.87 on Wednesday. The company has a 50-day simple moving average of $4.95 and a two-hundred day simple moving average of $4.83. The firm has a market capitalization of $282.17 million, a PE ratio of -3.83 and a beta of 1.08. Rezolute has a one year low of $0.92 and a one year high of $6.19.

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.