Rezolute (NASDAQ:RZLT) Lowered to “Hold” Rating by Citizens Jmp

Citizens Jmp cut shares of Rezolute (NASDAQ:RZLT) from a strong-buy rating to a hold rating in a report released on Thursday,Zacks.com reports.

Other analysts have also issued research reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Rezolute in a report on Thursday. Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of Rezolute in a report on Friday, December 5th. Maxim Group set a $4.00 price target on shares of Rezolute in a research report on Friday. Wedbush downgraded shares of Rezolute from an “outperform” rating to a “neutral” rating in a research report on Thursday. Finally, Wall Street Zen lowered Rezolute from a “hold” rating to a “sell” rating in a report on Saturday. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.78.

Rezolute Price Performance

Shares of NASDAQ:RZLT opened at $1.80 on Thursday. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The stock’s fifty day moving average price is $9.15 and its 200-day moving average price is $7.15. The company 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 posted its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. On average, sell-side analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Rezolute in the 2nd quarter worth approximately $25,000. Ameritas Investment Partners Inc. bought a new position in shares of Rezolute during the second quarter worth $30,000. Legal & General Group Plc purchased a new position in Rezolute during the second quarter valued at $32,000. Raymond James Financial Inc. bought a new stake in Rezolute in the 2nd quarter valued at $46,000. Finally, Paloma Partners Management Co purchased a new stake in Rezolute in the 1st quarter worth $48,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.