Rezolute (NASDAQ:RZLT) Rating Increased to Hold at Wall Street Zen

Rezolute (NASDAQ:RZLT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other research analysts also recently commented on the stock. Citigroup raised shares of Rezolute from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Rezolute in a report on Tuesday, June 2nd. Maxim Group raised their target price on shares of Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. BTIG Research raised their target price on shares of Rezolute from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Citizens Jmp upgraded Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rezolute currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Rezolute Stock Performance

NASDAQ RZLT opened at $5.02 on Monday. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock has a 50 day moving average of $3.60 and a 200-day moving average of $3.47. The company has a market cap of $483.38 million, a PE ratio of -6.12 and a beta of 0.68.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. As a group, sell-side analysts predict that Rezolute will post -0.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Rezolute

Large investors have recently made changes to their positions in the company. Mangrove Partners IM LLC increased its position in shares of Rezolute by 25.4% in the third quarter. Mangrove Partners IM LLC now owns 2,882,149 shares of the company’s stock worth $27,092,000 after purchasing an additional 584,660 shares during the period. 22NW LP acquired a new position in Rezolute in the third quarter valued at about $7,714,000. Caxton Corp lifted its position in Rezolute by 23.9% during the third quarter. Caxton Corp now owns 1,986,818 shares of the company’s stock worth $18,676,000 after purchasing an additional 382,832 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Rezolute during the fourth quarter worth about $494,000. Finally, Integral Health Asset Management LLC grew its stake in Rezolute by 11.1% during the third quarter. Integral Health Asset Management LLC now owns 2,000,000 shares of the company’s stock worth $18,800,000 after buying an additional 200,000 shares in the last quarter. 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.