Rezolute (NASDAQ:RZLT) Rating Increased to Strong-Buy at Craig Hallum

Craig Hallum upgraded shares of Rezolute (NASDAQ:RZLT) to a strong-buy rating in a report published on Tuesday morning,Zacks.com reports.

Several other analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $112.00 price objective on shares of Rezolute in a report on Monday, November 4th. Seven investment 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 stock currently has a consensus rating of “Buy” and an average target price of $24.13.

Rezolute Price Performance

Rezolute stock opened at $5.57 on Tuesday. The stock’s 50 day moving average is $4.89 and its 200 day moving average is $4.88. Rezolute has a one year low of $0.93 and a one year high of $6.19. The firm has a market cap of $322.73 million, a P/E ratio of -4.39 and a beta of 1.10.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.13. Equities analysts anticipate that Rezolute will post -0.99 earnings per share for the current fiscal year.

Insider Activity at Rezolute

In related news, CFO Daron Evans acquired 9,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $41,400.00. Following the purchase, the chief financial officer now owns 140,900 shares in the company, valued at approximately $648,140. The trade was a 6.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in shares of Rezolute during the 3rd quarter worth $42,000. Exome Asset Management LLC grew its position in shares of Rezolute by 24.7% during the 3rd 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. Virtu Financial LLC increased its stake in shares of Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after purchasing an additional 9,551 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after purchasing an additional 137,905 shares during the period. Finally, MML Investors Services LLC bought a new position in Rezolute during the third quarter valued at $57,000. 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.