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

Rezolute, Inc. (NASDAQ:RZLT) was the recipient of some unusual options trading activity on Friday. Stock investors acquired 4,646 call options on the company. This represents an increase of approximately 137% compared to the average volume of 1,957 call options.

Rezolute Stock Up 28.6%

Shares of RZLT opened at $1.80 on Friday. The business’s fifty day moving average is $9.15 and its 200 day moving average is $7.17. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46. The stock has a market cap of $166.91 million, a P/E ratio of -1.94 and a beta of 0.21.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. On average, analysts expect that Rezolute will post -0.93 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 price objective on shares of Rezolute in a report on Friday, December 5th. BTIG Research reiterated a “buy” rating and issued a $5.00 price target on shares of Rezolute in a research report on Thursday. Cantor Fitzgerald lowered Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday. Wedbush downgraded shares of Rezolute from an “outperform” rating to a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rezolute currently has an average rating of “Hold” and an average price target of $9.78.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Verition Fund Management LLC bought a new stake in shares of Rezolute during the 3rd quarter valued at $327,000. Millennium Management LLC purchased a new stake in shares of Rezolute in the third quarter worth about $1,685,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rezolute by 5.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock valued at $363,000 after acquiring an additional 2,014 shares in the last quarter. Jain Global LLC bought a new stake in Rezolute during the 3rd quarter worth approximately $298,000. Finally, Fred Alger Management LLC purchased a new stake in Rezolute in the 3rd quarter worth approximately $5,240,000. 82.97% of the stock is owned by institutional investors.

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.