Rezolute (NASDAQ:RZLT) Downgraded by Zacks Research to Strong Sell

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

A number of other equities research analysts have also recently weighed in on RZLT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Friday, July 17th. HSBC upgraded Rezolute to a “buy” rating in a research report on Friday, September 25th. Craig Hallum upgraded shares of Rezolute from a “hold” rating to a “buy” rating and increased their target price for the company from $4.00 to $7.00 in a research report on Tuesday, September 29th. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Finally, Guggenheim boosted their target price on Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Twelve analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.22.

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $4.23 on Tuesday. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The business’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $4.17. The firm has a market capitalization of $409.16 million, a PE ratio of -5.57 and a beta of 0.53.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, September 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Equities research analysts expect that Rezolute will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Several large investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $75,000. WINTON GROUP Ltd bought a new stake in shares of Rezolute in the 2nd quarter worth approximately $88,000. Integrated Wealth Concepts LLC acquired a new stake in Rezolute during the second quarter valued at approximately $143,000. Wellington Management Group LLP acquired a new stake in Rezolute during the second quarter valued at approximately $276,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Rezolute during the second quarter worth approximately $267,000. Institutional investors own 82.97% of the company’s stock.

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.