Rezolute, Inc. (NASDAQ:RZLT) Receives $7.63 Consensus PT from Analysts

Rezolute, Inc. (NASDAQ:RZLT) has been given a consensus rating of “Hold” by the eleven analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $7.6250.

Several equities analysts recently issued reports on the company. Craig Hallum cut Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research report on Thursday, December 11th. BTIG Research reissued a “buy” rating and issued a $5.00 target price on shares of Rezolute in a report on Thursday, January 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Rezolute in a report on Friday, December 5th. Maxim Group set a $4.00 price objective on shares of Rezolute in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, January 22nd.

Rezolute Price Performance

RZLT stock opened at $2.69 on Friday. The company has a market cap of $257.43 million, a price-to-earnings ratio of -2.89 and a beta of 0.51. The company has a fifty day moving average price of $3.12 and a 200 day moving average price of $5.86. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). As a group, analysts anticipate that Rezolute will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock worth $62,595,000 after purchasing an additional 2,755,385 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in shares of Rezolute in the second quarter valued at $977,000. Mangrove Partners IM LLC increased its position in shares of Rezolute by 25.4% in the third quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock valued at $27,092,000 after buying an additional 584,660 shares in the last quarter. 22NW LP acquired a new position in shares of Rezolute during the 3rd quarter worth $7,714,000. Finally, Geode Capital Management LLC raised its stake in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after buying an additional 1,143,834 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Rezolute

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.