Rezolute (NASDAQ:RZLT) Cut to Strong Sell at Zacks Research

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

A number of other equities research analysts have also issued reports on RZLT. HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Rezolute in a research note on Tuesday, June 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Rezolute in a report on Wednesday, June 3rd. BTIG Research lifted their price objective on Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Wedbush boosted their price objective on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research report on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.38.

Rezolute Stock Performance

Shares of NASDAQ:RZLT opened at $4.61 on Thursday. The stock has a 50-day simple moving average of $4.23 and a 200-day simple moving average of $3.47. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46. The stock has a market capitalization of $443.91 million, a P/E ratio of -5.62 and a beta of 0.54.

Rezolute (NASDAQ:RZLT) last posted 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. Analysts predict that Rezolute will post -0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RZLT. Federated Hermes Inc. lifted its stake in shares of Rezolute by 17.8% during the fourth quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after acquiring an additional 2,500,000 shares during the period. RA Capital Management L.P. bought a new position in Rezolute during the fourth quarter worth about $21,665,000. Opaleye Management Inc. lifted its holdings in shares of Rezolute by 595.9% during the 4th quarter. Opaleye Management Inc. now owns 6,287,156 shares of the company’s stock valued at $14,838,000 after purchasing an additional 5,383,714 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Rezolute by 147.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after buying an additional 2,684,133 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Rezolute by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock worth $41,455,000 after purchasing an additional 387,502 shares during the period. Institutional investors own 82.97% of the company’s stock.

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.