Rezolute (NASDAQ:RZLT) Price Target Raised to $15.00 at BTIG Research

Rezolute (NASDAQ:RZLT) had its target price boosted by equities research analysts at BTIG Research from $13.00 to $15.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would indicate a potential upside of 186.26% from the company’s current price.

A number of other equities analysts also recently weighed in on RZLT. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Monday. Craig Hallum initiated coverage on Rezolute in a research report on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price objective on the stock. Guggenheim started coverage on Rezolute in a research note on Tuesday, August 27th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Maxim Group upped their price target on Rezolute from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $10.75.

Rezolute Trading Down 1.3 %

Shares of Rezolute stock traded down $0.07 during trading on Tuesday, reaching $5.24. The company’s stock had a trading volume of 274,515 shares, compared to its average volume of 438,724. The stock has a 50-day moving average price of $4.47 and a two-hundred day moving average price of $3.53. The stock has a market capitalization of $290.09 million, a P/E ratio of -4.60 and a beta of 1.18. Rezolute has a one year low of $0.72 and a one year high of $6.10.

Insider Activity

In related news, CFO Daron Evans acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $4.04 per share, with a total value of $161,600.00. Following the completion of the purchase, the chief financial officer now directly owns 40,000 shares in the company, valued at $161,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 49,115 shares of company stock valued at $198,395 in the last 90 days. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jeppson Wealth Management LLC acquired a new stake in Rezolute in the second quarter worth $45,000. Virtu Financial LLC acquired a new stake in Rezolute during the 1st quarter worth $37,000. XTX Topco Ltd lifted its holdings in Rezolute by 205.8% during 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 in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Rezolute by 366.0% during the second quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after acquiring an additional 42,597 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in Rezolute in the second quarter valued at about $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.