Rezolute (NASDAQ:RZLT) Announces Earnings Results, Beats Estimates By $0.09 EPS

Rezolute (NASDAQ:RZLT) posted its quarterly earnings data on Thursday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09, FiscalAI reports.

Rezolute Stock Performance

RZLT traded up $1.16 on Friday, hitting $10.76. The company had a trading volume of 2,048,771 shares, compared to its average volume of 1,493,891. The stock has a market capitalization of $977.33 million, a price-to-earnings ratio of -11.57 and a beta of 0.07. The stock has a fifty day moving average price of $8.66 and a 200-day moving average price of $6.21. Rezolute has a 12-month low of $2.21 and a 12-month high of $10.94.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on RZLT shares. Citizens Jmp lifted their target price on Rezolute from $9.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 29th. Guggenheim reissued a “buy” rating and issued a $15.00 price objective on shares of Rezolute in a research report on Monday, September 22nd. JMP Securities set a $17.00 price target on Rezolute in a research report on Wednesday, October 29th. Maxim Group lifted their price objective on Rezolute from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Rezolute in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rezolute presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RZLT. Vanguard Group Inc. lifted its position in Rezolute by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after acquiring an additional 387,502 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Rezolute by 77.4% during the second quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock worth $10,220,000 after purchasing an additional 1,000,000 shares in the last quarter. Rosalind Advisors Inc. purchased a new stake in shares of Rezolute during the 2nd quarter valued at $7,766,000. Opaleye Management Inc. lifted its holdings in shares of Rezolute by 94.3% during the 2nd quarter. Opaleye Management Inc. now owns 903,442 shares of the company’s stock valued at $4,029,000 after purchasing an additional 438,442 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its position in shares of Rezolute by 1,745.6% in the 2nd quarter. Boothbay Fund Management LLC now owns 266,671 shares of the company’s stock worth $1,189,000 after purchasing an additional 252,222 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.