Rezolute (NASDAQ:RZLT) Releases Earnings Results, Beats Estimates By $0.01 EPS

Rezolute (NASDAQ:RZLT) released its quarterly earnings results on Tuesday. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01, FiscalAI reports.

Rezolute Stock Down 2.0%

RZLT traded down $0.07 during trading on Wednesday, reaching $3.24. 292,933 shares of the company’s stock were exchanged, compared to its average volume of 2,766,668. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46. The business has a 50 day moving average price of $3.13 and a 200 day moving average price of $4.62. The company has a market capitalization of $309.59 million, a P/E ratio of -3.48 and a beta of 0.66.

Institutional Investors Weigh In On Rezolute

Several institutional investors and hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in shares of Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after purchasing an additional 2,500,000 shares in the last quarter. RA Capital Management L.P. acquired a new position in Rezolute during the 4th quarter worth about $21,665,000. Opaleye Management Inc. lifted its position in Rezolute by 595.9% during the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock worth $14,838,000 after buying an additional 5,383,714 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Rezolute by 147.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock worth $10,636,000 after buying an additional 2,684,133 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Rezolute by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock worth $41,455,000 after buying an additional 387,502 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush raised shares of Rezolute from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $2.00 to $5.00 in a research report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.00.

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.