Rezolute (NASDAQ:RZLT) Given Outperform Rating at Wedbush

Rezolute (NASDAQ:RZLT)‘s stock had its “outperform” rating reissued by Wedbush in a report issued on Monday, RTT News reports. They presently have a $112.00 price target on the stock.

A number of other research analysts have also recently commented on RZLT. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a report on Friday, September 20th. BTIG Research raised their target price on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Maxim Group boosted their price target on Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a report on Friday, September 27th. Finally, Guggenheim assumed coverage on Rezolute in a report on Tuesday, August 27th. They issued a “buy” rating and a $11.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.13.

Rezolute Trading Down 1.1 %

Shares of RZLT stock traded down $0.06 during trading hours on Monday, reaching $5.44. 551,772 shares of the stock were exchanged, compared to its average volume of 431,836. The firm has a market capitalization of $304.26 million, a price-to-earnings ratio of -4.09 and a beta of 1.18. Rezolute has a 12-month low of $0.72 and a 12-month high of $6.10. The company’s 50-day moving average price is $4.96 and its 200-day moving average price is $4.32.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14). On average, sell-side analysts expect that Rezolute will post -1.23 EPS for the current year.

Institutional Investors Weigh In On Rezolute

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in Rezolute by 366.0% in the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after purchasing an additional 42,597 shares in the last quarter. Affinity Asset Advisors LLC grew its position in shares of Rezolute by 15.6% in the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock worth $7,955,000 after buying an additional 250,000 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Rezolute in the 2nd quarter worth approximately $4,503,000. XTX Topco Ltd lifted its position in Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock valued at $145,000 after acquiring an additional 22,660 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Rezolute in the second quarter valued at approximately $255,000. 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.