Rezolute, Inc. (NASDAQ:RZLT) Given Average Recommendation of “Hold” by Analysts

Rezolute, Inc. (NASDAQ:RZLT) has earned an average recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.6250.

Several research analysts recently weighed in on the stock. Guggenheim cut their target price on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, January 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of Rezolute in a report on Friday, December 5th. Craig Hallum lowered shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research report on Thursday, December 11th. Finally, Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th.

Rezolute Stock Performance

Rezolute stock opened at $2.49 on Friday. The stock has a fifty day moving average of $3.12 and a two-hundred day moving average of $5.94. The company has a market capitalization of $237.81 million, a price-to-earnings ratio of -2.67 and a beta of 0.51. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). On average, analysts forecast that Rezolute will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its position in shares of Rezolute by 24.4% in the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after purchasing an additional 2,755,385 shares during the period. Stonepine Capital Management LLC acquired a new position in Rezolute in the second quarter valued at $977,000. Mangrove Partners IM LLC lifted its position in Rezolute by 25.4% during the third quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock worth $27,092,000 after buying an additional 584,660 shares during the period. 22NW LP purchased a new position in Rezolute during the third quarter worth about $7,714,000. Finally, Geode Capital Management LLC boosted its stake in Rezolute by 201.7% in 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. Hedge funds and other institutional investors 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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.