Rezolute (NASDAQ:RZLT) Downgraded by Wall Street Zen to Sell

Rezolute (NASDAQ:RZLT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

RZLT has been the subject of several other research reports. Guggenheim lifted their target price on shares of Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Rezolute in a report on Tuesday, June 2nd. Citigroup raised shares of Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 3rd. Finally, Maxim Group boosted their price objective on Rezolute from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.38.

Rezolute Trading Up 1.2%

NASDAQ:RZLT opened at $5.10 on Tuesday. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The firm’s 50 day moving average is $3.78 and its 200 day moving average is $3.27. The stock has a market capitalization of $491.08 million, a PE ratio of -6.22 and a beta of 0.68.

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

Institutional Trading of Rezolute

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Rezolute in the 2nd quarter worth approximately $25,000. ExodusPoint Capital Management LP purchased a new position in shares of Rezolute during the 4th quarter valued at $25,000. HB Wealth Management LLC bought a new position in shares of Rezolute in the fourth quarter worth $26,000. Fifth Third Wealth Advisors LLC bought a new position in shares of Rezolute in the fourth quarter worth $29,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Rezolute in the fourth quarter worth $29,000. 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.