Rezolute (NASDAQ:RZLT) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Rezolute (NASDAQ:RZLT) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also weighed in on RZLT. BTIG Research upped their target price on shares of Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Rezolute in a research note on Tuesday, June 2nd. Citigroup raised Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 3rd. Wedbush increased their price objective on Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Guggenheim increased their price objective on Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rezolute currently has an average rating of “Moderate Buy” and an average target price of $9.38.

Rezolute Trading Up 5.5%

Shares of RZLT stock opened at $4.61 on Thursday. The firm has a market capitalization of $443.90 million, a PE ratio of -5.62 and a beta of 0.54. The firm has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $3.47. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. On average, equities analysts predict that Rezolute will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Rezolute in the 2nd quarter valued at about $25,000. ExodusPoint Capital Management LP bought a new position in shares of Rezolute during the 4th quarter worth approximately $25,000. HB Wealth Management LLC purchased a new position in shares of Rezolute in the 4th quarter worth approximately $26,000. Fifth Third Wealth Advisors LLC purchased a new position in shares of Rezolute in the 4th quarter worth approximately $29,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Rezolute in the 4th quarter worth approximately $29,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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.