Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Rezolute (NASDAQ:RZLT) announced its quarterly earnings results on Thursday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06), FiscalAI reports.

Rezolute Stock Up 7.7%

Shares of RZLT traded up $0.26 during trading on Thursday, reaching $3.63. The company’s stock had a trading volume of 3,677,946 shares, compared to its average volume of 3,901,339. The company has a market cap of $336.60 million, a price-to-earnings ratio of -3.90 and a beta of 0.46. The company has a fifty day moving average of $3.39 and a two-hundred day moving average of $6.56. Rezolute has a twelve month low of $1.07 and a twelve month high of $11.46.

Insiders Place Their Bets

In related news, CFO Daron Evans acquired 40,000 shares of Rezolute stock in a transaction on Monday, December 15th. The shares were purchased at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the purchase, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at $736,143. The trade was a 10.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam bought 32,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was bought at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the purchase, 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 purchased 89,100 shares of company stock valued at $150,232. Insiders own 14.78% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Several large investors have recently added to or reduced their stakes in RZLT. JPMorgan Chase & Co. increased its stake in Rezolute by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company’s stock valued at $312,000 after purchasing an additional 1,567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Rezolute by 5.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company’s stock valued at $363,000 after buying an additional 2,014 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Rezolute during the second quarter worth about $25,000. Russell Investments Group Ltd. bought a new position in Rezolute in the third quarter worth about $61,000. Finally, Legal & General Group Plc acquired a new position in Rezolute in the second quarter valued at approximately $32,000. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RZLT shares. Cantor Fitzgerald cut Rezolute from an “overweight” rating to a “neutral” rating in a report on Thursday, December 11th. Maxim Group set a $4.00 target price on shares of Rezolute in a research report on Friday, December 12th. JMP Securities set a $17.00 price target on shares of Rezolute in a report on Wednesday, October 29th. Citigroup downgraded shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Finally, Wedbush raised their target price on shares of Rezolute to $2.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Rezolute currently has an average rating of “Hold” and an average target price of $8.67.

Rezolute Company Profile

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.