Wall Street Zen Downgrades Rezolute (NASDAQ:RZLT) to Sell

Rezolute (NASDAQ:RZLT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on RZLT. Citigroup lowered shares of Rezolute from an “outperform” rating to a “market perform” rating in a report on Thursday. Craig Hallum downgraded shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research note on Thursday. Maxim Group set a $4.00 price target on Rezolute in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Wednesday, October 8th. Finally, JMP Securities set a $17.00 target price on Rezolute in a report on Wednesday, October 29th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Rezolute has an average rating of “Hold” and a consensus target price of $9.78.

Rezolute Stock Up 28.6%

Shares of Rezolute stock opened at $1.80 on Friday. The stock’s fifty day moving average is $9.15 and its two-hundred day moving average is $7.19. Rezolute has a 52 week low of $1.07 and a 52 week high of $11.46. The company has a market capitalization of $166.91 million, a PE ratio of -1.94 and a beta of 0.21.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. As a group, research analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its holdings in shares of Rezolute by 5.6% in the 3rd quarter. New York State Common Retirement Fund now owns 24,600 shares of the company’s stock valued at $231,000 after acquiring an additional 1,300 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Rezolute by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company’s stock worth $312,000 after purchasing an additional 1,567 shares during the last quarter. Pale Fire Capital SE boosted its position in Rezolute by 4.2% during the second quarter. Pale Fire Capital SE now owns 49,122 shares of the company’s stock valued at $219,000 after purchasing an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Rezolute by 5.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock valued at $363,000 after purchasing an additional 2,014 shares during the last quarter. Finally, Huntleigh Advisors Inc. raised its holdings in Rezolute by 16.7% in the third quarter. Huntleigh Advisors Inc. now owns 17,500 shares of the company’s stock worth $164,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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.