Rezolute (NASDAQ:RZLT) Stock Breaks Below Two Hundred Day Moving Average – Here’s What Happened

Rezolute, Inc. (NASDAQ:RZLT – Get Free Report)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $3.92 and traded as low as $3.85. Rezolute shares last traded at $3.87, with a volume of 1,088,770 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RZLT. Lake Street Capital lifted their price target on Rezolute from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Zacks Research lowered shares of Rezolute from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Cantor Fitzgerald raised shares of Rezolute from a “neutral” rating to an “overweight” rating in a research note on Monday, October 5th. HSBC upgraded shares of Rezolute to a “buy” rating in a report on Friday, September 25th. Finally, Craig Hallum raised shares of Rezolute from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.00 to $7.00 in a research report on Tuesday, September 29th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.22.

Read Our Latest Analysis on Rezolute

Rezolute Stock Performance

The firm’s 50 day simple moving average is $4.09 and its 200-day simple moving average is $3.92. The company has a market capitalization of $374.35 million, a price-to-earnings ratio of -5.09 and a beta of 0.65.

Rezolute (NASDAQ:RZLT – Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.01. As a group, equities analysts anticipate that Rezolute, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its holdings in shares of Rezolute by 23.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 259,307 shares of the company’s stock valued at $1,074,000 after purchasing an additional 49,263 shares during the period. AlphaCentric Advisors LLC lifted its position in shares of Rezolute by 4.5% in the third quarter. AlphaCentric Advisors LLC now owns 75,495 shares of the company’s stock worth $313,000 after purchasing an additional 3,240 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Rezolute by 29.6% in the third quarter. Alps Advisors Inc. now owns 126,671 shares of the company’s stock worth $524,000 after purchasing an additional 28,947 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Rezolute during the second quarter worth approximately $75,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Rezolute during the second quarter worth approximately $88,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Rezolute Company Profile

(Get Free Report)

Rezolute, Inc. is a clinical-stage biopharmaceutical company based in Redwood City, California. It develops treatments for rare diseases, with a focus on conditions that cause dangerously low blood sugar. The company’s lead drug candidate, ersodetug (formerly RZ358), is an investigational monoclonal antibody designed to modulate insulin-receptor signaling. Rezolute is studying it for congenital hyperinsulinism, a rare disorder in which the body produces too much insulin, and other forms of severe hypoglycemia.

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