Rezolute (NASDAQ:RZLT) Cut to Strong Sell at Zacks Research

Rezolute (NASDAQ:RZLT) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Several other brokerages also recently commented on RZLT. Citizens Jmp upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a research report on Wednesday, June 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a report on Wednesday, June 3rd. Wall Street Zen lowered Rezolute from a “hold” rating to a “sell” rating in a research note on Tuesday, June 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Finally, Citigroup upgraded Rezolute from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 3rd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.38.

Rezolute Trading Up 5.5%

Rezolute stock opened at $4.61 on Thursday. The firm has a 50 day moving average of $4.23 and a 200 day moving average of $3.47. The firm has a market capitalization of $443.90 million, a price-to-earnings ratio of -5.62 and a beta of 0.54. Rezolute has a 12-month low of $1.07 and a 12-month high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. On average, analysts predict that Rezolute will post -0.69 EPS for the current year.

Institutional Trading of Rezolute

A number of institutional investors and hedge funds have recently bought and sold shares of RZLT. Goldman Sachs Group Inc. bought a new position in shares of Rezolute during the 1st quarter valued at about $685,000. JPMorgan Chase & Co. purchased a new stake in shares of Rezolute in the second quarter worth about $141,000. Legal & General Group Plc purchased a new stake in shares of Rezolute in the second quarter worth about $32,000. Rhumbline Advisers bought a new position in Rezolute during the second quarter valued at approximately $432,000. Finally, New York State Common Retirement Fund bought a new position in Rezolute during the second quarter valued at approximately $104,000. 82.97% of the stock is currently owned by 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.