Rezolute (NASDAQ:RZLT) Reaches New 12-Month Low on Analyst Downgrade

Rezolute, Inc. (NASDAQ:RZLT)’s share price reached a new 52-week low during trading on Thursday after Craig Hallum downgraded the stock from a buy rating to a hold rating. Craig Hallum now has a $2.00 price target on the stock. Rezolute traded as low as $1.07 and last traded at $1.40, with a volume of 128037140 shares. The stock had previously closed at $10.94.

Other equities analysts have also recently issued reports about the stock. Citigroup cut shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and issued a $15.00 target price on shares of Rezolute in a report on Monday, September 22nd. Citizens Jmp increased their price target on shares of Rezolute from $9.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Rezolute from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a report on Wednesday, September 3rd. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Rezolute currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.56.

Institutional Trading of Rezolute

Large investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Rezolute during the 1st quarter worth about $95,000. American Century Companies Inc. raised its position in shares of Rezolute by 5.2% in the first quarter. American Century Companies Inc. now owns 67,925 shares of the company’s stock valued at $197,000 after buying an additional 3,334 shares during the last quarter. Pale Fire Capital SE lifted its stake in shares of Rezolute by 9.1% during the first quarter. Pale Fire Capital SE now owns 47,122 shares of the company’s stock valued at $137,000 after buying an additional 3,935 shares during the period. Affinity Asset Advisors LLC boosted its position in Rezolute by 7.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,700,000 shares of the company’s stock worth $4,930,000 after acquiring an additional 125,000 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Rezolute by 56.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock worth $345,000 after acquiring an additional 42,900 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Down 87.2%

The company’s 50 day simple moving average is $9.45 and its 200 day simple moving average is $7.20.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results 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. As a group, equities analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

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.