Rezolute (NASDAQ:RZLT) Stock Gets Downgrade from Zacks Research

Rezolute (NASDAQ:RZLT) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.

Other research analysts have also recently issued reports about the company. Citigroup reaffirmed an “outperform” rating on shares of Rezolute in a research report on Tuesday, October 6th. HSBC upgraded Rezolute to a “buy” rating in a report on Friday, September 25th. Lake Street Capital lifted their target price on Rezolute from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Cantor Fitzgerald raised Rezolute from a “neutral” rating to an “overweight” rating in a research report on Monday, October 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research note on Friday, July 17th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Rezolute has a consensus rating of “Moderate Buy” and an average target price of $11.22.

Rezolute Trading Down 8.2%

RZLT opened at $4.23 on Tuesday. The stock has a market capitalization of $409.16 million, a P/E ratio of -5.57 and a beta of 0.53. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The firm’s fifty day simple moving average is $4.44 and its 200 day simple moving average is $4.17.

Rezolute (NASDAQ:RZLT) last released its earnings results on Thursday, September 24th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). On average, equities research analysts predict that Rezolute will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Rezolute

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC bought a new position in shares of Rezolute in the 2nd quarter valued at about $75,000. WINTON GROUP Ltd bought a new stake in Rezolute during the second quarter worth about $88,000. Integrated Wealth Concepts LLC bought a new stake in Rezolute during the second quarter worth about $143,000. Wellington Management Group LLP bought a new stake in Rezolute during the second quarter worth about $276,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Rezolute during the second quarter valued at approximately $267,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company’s research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute’s lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.