Rezolute (NASDAQ:RZLT) Receives “Buy” Rating from Guggenheim

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

A number of other brokerages have also commented on RZLT. Wedbush reiterated an “outperform” rating and set a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Wednesday, February 5th. Finally, Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $24.13.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $4.86 on Monday. The business’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $4.90. Rezolute has a 52 week low of $1.04 and a 52 week high of $6.19. The firm has a market cap of $281.53 million, a price-to-earnings ratio of -3.83 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. As a group, equities research analysts forecast that Rezolute will post -0.99 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in Rezolute during the third quarter worth $42,000. Charles Schwab Investment Management Inc. lifted its holdings in Rezolute by 65.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after purchasing an additional 9,000 shares during the last quarter. Virtu Financial LLC raised its position in shares of Rezolute by 58.0% in the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock valued at $126,000 after purchasing an additional 9,551 shares during the period. MML Investors Services LLC acquired a new stake in shares of Rezolute during the 3rd quarter worth about $57,000. Finally, State Street Corp boosted its holdings in shares of Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after buying an additional 13,000 shares during the period. 82.97% of the stock is currently 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.