Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) released its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01, FiscalAI reports.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.13 during trading hours on Tuesday, hitting $3.30. 1,340,193 shares of the stock were exchanged, compared to its average volume of 2,793,798. The company has a market cap of $315.81 million, a PE ratio of -3.55 and a beta of 0.66. The company’s fifty day simple moving average is $3.13 and its two-hundred day simple moving average is $4.67. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Analysts Set New Price Targets

A number of research analysts have issued reports on RZLT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research report on Tuesday, April 21st. Wedbush upgraded shares of Rezolute from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $2.00 to $5.00 in a research report on Wednesday, March 25th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Trading of Rezolute

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in shares of Rezolute during the second quarter valued at $106,000. New York State Common Retirement Fund bought a new position in shares of Rezolute during the second quarter valued at $104,000. Intech Investment Management LLC raised its stake in shares of Rezolute by 67.1% during the fourth quarter. Intech Investment Management LLC now owns 43,819 shares of the company’s stock valued at $103,000 after acquiring an additional 17,596 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Rezolute during the third quarter valued at $61,000. Finally, Raymond James Financial Inc. bought a new position in shares of Rezolute during the second quarter valued at $46,000. Institutional investors and hedge funds 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.