Rezolute, Inc. (NASDAQ:RZLT) Given Average Recommendation of “Hold” by Analysts

Shares of Rezolute, Inc. (NASDAQ:RZLT) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.00.

Several brokerages recently weighed in on RZLT. Wedbush raised Rezolute from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $2.00 to $5.00 in a report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st.

Rezolute Price Performance

Shares of Rezolute stock opened at $3.21 on Monday. The firm has a market cap of $307.20 million, a P/E ratio of -3.45 and a beta of 0.66. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46. The business has a 50-day moving average price of $3.14 and a 200 day moving average price of $4.75.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). As a group, equities research analysts anticipate that Rezolute will post -0.68 earnings per share for the current year.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in Rezolute in the fourth quarter valued at approximately $21,665,000. Opaleye Management Inc. grew its holdings in shares of Rezolute by 595.9% during the fourth quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock valued at $14,838,000 after purchasing an additional 5,383,714 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Rezolute during the first quarter valued at approximately $10,489,000. Balyasny Asset Management L.P. grew its holdings in shares of Rezolute by 147.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after purchasing an additional 2,684,133 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Rezolute by 17.8% during the fourth quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after purchasing an additional 2,500,000 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.