Rezolute (NASDAQ:RZLT) Sets New 52-Week Low Following Analyst Downgrade

Shares of Rezolute, Inc. (NASDAQ:RZLT) hit a new 52-week low on Thursday after Wall Street Zen downgraded the stock from a hold rating to a sell rating. The company traded as low as $1.07 and last traded at $1.40, with a volume of 128037140 shares trading hands. The stock had previously closed at $10.94.

Several other research analysts have also commented on RZLT. Cantor Fitzgerald lowered Rezolute from an “overweight” rating to a “neutral” rating in a report on Thursday. JMP Securities set a $17.00 price objective on shares of Rezolute in a report on Wednesday, October 29th. Wedbush downgraded shares of Rezolute from an “outperform” rating to a “neutral” rating in a research note on Thursday. Jefferies Financial Group reiterated a “buy” rating and issued a $20.00 target price on shares of Rezolute in a report on Friday, December 5th. Finally, Citigroup cut shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Rezolute presently has an average rating of “Moderate Buy” and an average price target of $9.78.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in Rezolute during the second quarter worth about $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute in the 2nd quarter valued at approximately $30,000. Legal & General Group Plc acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new position in shares of Rezolute during the 2nd quarter worth approximately $46,000. Finally, Paloma Partners Management Co purchased a new position in shares of Rezolute during the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Trading Up 28.6%

The stock has a market cap of $166.91 million, a price-to-earnings ratio of -1.94 and a beta of 0.21. The company’s fifty day moving average is $9.15 and its two-hundred day moving average is $7.15.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09. Analysts predict that Rezolute, Inc. will post -0.93 EPS for the current year.

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.