JMP Securities Reiterates “Market Outperform” Rating for Rezolute (NASDAQ:RZLT)

JMP Securities reaffirmed their market outperform rating on shares of Rezolute (NASDAQ:RZLT) in a report issued on Thursday morning, Benzinga reports. JMP Securities currently has a $7.00 price objective on the stock.

RZLT has been the subject of a number of other reports. Maxim Group assumed coverage on Rezolute in a research note on Tuesday, April 9th. They issued a buy rating and a $8.00 target price for the company. Jonestrading assumed coverage on Rezolute in a research note on Thursday. They issued a buy rating and a $10.00 target price for the company. Finally, HC Wainwright restated a buy rating and issued a $14.00 target price on shares of Rezolute in a research note on Thursday, March 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $8.80.

Rezolute Stock Performance

NASDAQ:RZLT opened at $3.30 on Thursday. The company has a market capitalization of $132.43 million, a price-to-earnings ratio of -3.00 and a beta of 1.29. Rezolute has a one year low of $0.72 and a one year high of $3.63. The stock has a 50-day simple moving average of $2.00 and a 200 day simple moving average of $1.32.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Tuesday, February 13th. The company reported ($0.27) EPS for the quarter, meeting analysts’ consensus estimates of ($0.27). On average, equities research analysts forecast that Rezolute will post -1.06 EPS for the current fiscal year.

Insider Activity

In other Rezolute news, Director Young-Jin Kim purchased 36,503 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were bought at an average price of $1.91 per share, with a total value of $69,720.73. Following the completion of the acquisition, the director now owns 115,450 shares in the company, valued at approximately $220,509.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Young-Jin Kim bought 36,503 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were purchased at an average price of $1.91 per share, with a total value of $69,720.73. Following the completion of the acquisition, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daron Evans bought 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $1.93 per share, for a total transaction of $96,500.00. Following the acquisition, the chief financial officer now owns 120,900 shares of the company’s stock, valued at $233,337. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 179,403 shares of company stock valued at $306,601. Insiders own 18.20% of the company’s stock.

Institutional Investors Weigh In On Rezolute

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Rezolute by 3.2% in the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock valued at $1,162,000 after buying an additional 10,500 shares in the last quarter. State Street Corp bought a new position in shares of Rezolute in the first quarter valued at $69,000. Worth Venture Partners LLC increased its holdings in shares of Rezolute by 72.5% in the first quarter. Worth Venture Partners LLC now owns 104,709 shares of the company’s stock valued at $354,000 after buying an additional 43,991 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Rezolute by 65.2% in the second quarter. Northern Trust Corp now owns 85,097 shares of the company’s stock valued at $274,000 after buying an additional 33,581 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Rezolute in the second quarter valued at $58,000. Institutional investors own 82.97% of the company’s stock.

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.