Rezolute, Inc. (NASDAQ:RZLT) Given Consensus Rating of “Hold” by Analysts
by Michael Walen · The Markets DailyShares of Rezolute, Inc. (NASDAQ:RZLT – Get Free Report) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $8.00.
RZLT has been the subject of a number of analyst reports. Cantor Fitzgerald downgraded Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. BTIG Research reiterated a “buy” rating and set a $5.00 price objective on shares of Rezolute in a research note on Thursday, January 8th. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Citizens Jmp downgraded Rezolute from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Finally, Maxim Group set a $4.00 target price on shares of Rezolute in a research note on Friday, December 12th.
Read Our Latest Report on Rezolute
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in Rezolute by 24.4% in the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after buying an additional 2,755,385 shares during the period. Stonepine Capital Management LLC acquired a new stake in shares of Rezolute in the second quarter valued at approximately $977,000. Mangrove Partners IM LLC boosted its stake in shares of Rezolute by 25.4% during the 3rd quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock worth $27,092,000 after acquiring an additional 584,660 shares during the period. 22NW LP bought a new position in shares of Rezolute during the 3rd quarter worth approximately $7,714,000. Finally, Geode Capital Management LLC increased its holdings in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after acquiring an additional 1,143,834 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.
Rezolute Price Performance
Shares of NASDAQ:RZLT opened at $3.25 on Friday. The company’s 50-day moving average price is $3.14 and its two-hundred day moving average price is $5.82. Rezolute has a one year low of $1.07 and a one year high of $11.46. The stock has a market capitalization of $311.02 million, a PE ratio of -3.49 and a beta of 0.51.
Rezolute (NASDAQ:RZLT – Get Free Report) 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). On average, analysts anticipate that Rezolute will post -0.93 earnings per share for the current fiscal year.
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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.