Rezolute (NASDAQ:RZLT) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Rezolute (NASDAQ:RZLT) from a hold rating to a sell rating in a research note released on Thursday.

A number of other analysts also recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Monday, April 28th. Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Finally, JMP Securities boosted their target price on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Rezolute Price Performance

Shares of NASDAQ RZLT opened at $3.89 on Thursday. The company has a market capitalization of $235.48 million, a price-to-earnings ratio of -3.19 and a beta of 1.01. The business has a 50-day moving average of $3.27 and a two-hundred day moving average of $4.24. Rezolute has a 1 year low of $2.22 and a 1 year high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). As a group, equities research analysts expect that Rezolute will post -0.93 earnings per share for the current year.

Insider Activity at Rezolute

In related news, CFO Daron Evans purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The shares were purchased at an average price of $2.89 per share, for a total transaction of $28,900.00. Following the transaction, the chief financial officer now directly owns 237,900 shares of the company’s stock, valued at approximately $687,531. The trade was a 4.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nevan C. Elam purchased 12,302 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the transaction, the chief executive officer now directly owns 224,119 shares in the company, valued at $638,739.15. This trade represents a 5.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 29,060 shares of company stock worth $83,694 in the last quarter. Company insiders own 18.39% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Several institutional investors have recently added to or reduced their stakes in RZLT. JPMorgan Chase & Co. acquired a new position in Rezolute during the 3rd quarter worth approximately $42,000. Alpine Global Management LLC acquired a new position in Rezolute during the 4th quarter worth approximately $54,000. Jeppson Wealth Management LLC acquired a new position in Rezolute during the 1st quarter worth approximately $35,000. Paloma Partners Management Co acquired a new position in Rezolute during the 1st quarter worth approximately $48,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Rezolute by 48.5% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company’s stock worth $97,000 after purchasing an additional 6,470 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

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.