Rezolute (NASDAQ:RZLT) Shares Down 3.8% – What’s Next?

Rezolute, Inc. (NASDAQ:RZLT) shares traded down 3.8% during trading on Thursday . The stock traded as low as $3.23 and last traded at $3.25. 2,102,456 shares were traded during mid-day trading, a decline of 49% from the average session volume of 4,120,417 shares. The stock had previously closed at $3.38.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RZLT shares. Craig Hallum lowered 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. Wall Street Zen lowered Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Guggenheim decreased their target price on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, December 12th. Cantor Fitzgerald lowered shares of Rezolute from an “overweight” rating to a “neutral” rating in a report on Thursday, December 11th. Finally, Wedbush increased their price target on shares of Rezolute to $2.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.67.

Rezolute Stock Down 3.8%

The firm has a market cap of $301.37 million, a P/E ratio of -3.49 and a beta of 0.39. The firm’s fifty day moving average is $4.53 and its two-hundred day moving average is $6.70.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. As a group, sell-side analysts forecast that Rezolute, Inc. will post -0.93 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daron Evans acquired 40,000 shares of the stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at $736,143. This represents a 10.64% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam bought 32,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were acquired at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. This represents a 5.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 89,100 shares of company stock valued at $150,232. 14.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Rezolute during the second quarter worth about $25,000. HB Wealth Management LLC purchased a new position in shares of Rezolute during the fourth quarter valued at approximately $26,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Rezolute in the 4th quarter worth approximately $29,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute in the 2nd quarter worth approximately $30,000. Finally, Legal & General Group Plc bought a new position in Rezolute during the 2nd quarter valued at approximately $32,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.