Rezolute (NASDAQ:RZLT – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01, FiscalAI reports.
Rezolute Stock Performance
RZLT stock traded up $0.15 during midday trading on Tuesday, reaching $3.32. The company’s stock had a trading volume of 1,341,120 shares, compared to its average volume of 2,794,427. The stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $4.67. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The firm has a market capitalization of $317.72 million, a price-to-earnings ratio of -3.57 and a beta of 0.66.
Analysts Set New Price Targets
Several brokerages have recently weighed in on RZLT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Tuesday, April 21st. Wedbush upgraded shares of Rezolute from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $2.00 to $5.00 in a research note on Wednesday, March 25th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.00.
Institutional Investors Weigh In On Rezolute
Hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after acquiring an additional 2,500,000 shares during the period. RA Capital Management L.P. purchased a new position in shares of Rezolute in the 4th quarter valued at $21,665,000. Opaleye Management Inc. increased its holdings in shares of Rezolute by 595.9% in the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock valued at $14,838,000 after acquiring an additional 5,383,714 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Rezolute by 147.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after buying an additional 2,684,133 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Rezolute by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after buying an additional 387,502 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.
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.
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