Investors Buy Large Volume of Rezolute Call Options (NASDAQ:RZLT)

by · The Cerbat Gem

Rezolute, Inc. (NASDAQ:RZLT – Get Free Report) saw some unusual options trading activity on Friday. Traders acquired 4,646 call options on the stock. This is an increase of 137% compared to the typical volume of 1,957 call options.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup cut shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday. Guggenheim reduced their target price on Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price target on shares of Rezolute in a research note on Friday, December 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Wednesday, October 8th. Finally, Citizens Jmp lifted their price objective on Rezolute from $9.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.56.

View Our Latest Stock Report on RZLT

Institutional Investors Weigh In On Rezolute

Several hedge funds and other institutional investors have recently modified their holdings of the business. Verition Fund Management LLC purchased a new position in Rezolute during the 3rd quarter valued at $327,000. Millennium Management LLC bought a new stake in shares of Rezolute during the third quarter worth $1,685,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rezolute by 5.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock worth $363,000 after purchasing an additional 2,014 shares during the last quarter. Jain Global LLC purchased a new stake in shares of Rezolute during the third quarter valued at $298,000. Finally, Fred Alger Management LLC bought a new stake in Rezolute during the 3rd quarter valued at $5,240,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Rezolute Price Performance

Shares of Rezolute stock traded up $0.22 during trading on Friday, hitting $1.62. The stock had a trading volume of 14,879,495 shares, compared to its average volume of 1,692,574. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The firm’s fifty day simple moving average is $9.29 and its 200-day simple moving average is $7.16. The stock has a market cap of $149.76 million, a PE ratio of -1.73 and a beta of 0.21.

Rezolute (NASDAQ:RZLT – Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. Analysts expect that Rezolute will post -0.93 earnings per share for the current fiscal year.

Rezolute Company Profile

(Get Free Report)

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.

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