Zacks Research lowered shares of Rezolute (NASDAQ:RZLT – Free Report) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks reports.
Several other analysts have also issued reports on the stock. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Cantor Fitzgerald raised shares of Rezolute from a “neutral” rating to an “overweight” rating in a report on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. Guggenheim lifted their price objective on shares of Rezolute from $6.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, HSBC upgraded shares of Rezolute to a “buy” rating in a research note on Friday, September 25th. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.22.
Read Our Latest Stock Report on Rezolute
Rezolute Stock Performance
Rezolute (NASDAQ:RZLT – Get Free Report) last released its quarterly earnings data on Thursday, September 24th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Equities research analysts forecast that Rezolute will post -0.63 EPS for the current fiscal year.
Institutional Investors Weigh In On Rezolute
Several hedge funds and other institutional investors have recently modified their holdings of RZLT. Jennison Associates LLC bought a new stake in Rezolute during the 1st quarter worth approximately $10,489,000. Siren L.L.C. purchased a new stake in Rezolute in the 1st quarter worth approximately $10,151,000. Dimensional Fund Advisors LP lifted its stake in Rezolute by 273.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 530,229 shares of the company’s stock worth $1,617,000 after purchasing an additional 388,346 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Rezolute in the 2nd quarter valued at $1,104,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Rezolute in the 4th quarter valued at $494,000. 82.97% of the stock is currently owned by institutional investors.
About Rezolute
Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company’s research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.
Rezolute’s lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.
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