Rezolute (NASDAQ:RZLT) Shares Down 3.8% – What’s Next?

Rezolute, Inc. (NASDAQ:RZLT) fell 3.8% on Thursday . The stock traded as low as $3.23 and last traded at $3.25. 2,102,456 shares changed hands during trading, a decline of 49% from the average session volume of 4,120,417 shares. The stock had previously closed at $3.38.

Analyst Ratings Changes

A number of research analysts have recently commented on RZLT shares. Craig Hallum cut Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research report on Thursday, December 11th. Cantor Fitzgerald cut Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. Citizens Jmp downgraded shares of Rezolute from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $5.00 target price on shares of Rezolute in a research note on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.67.

Rezolute Stock Performance

The stock has a market capitalization of $301.37 million, a PE ratio of -3.49 and a beta of 0.39. The business’s 50-day moving average price is $4.53 and its 200 day moving average price is $6.70.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. As a group, equities research analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Nevan C. Elam purchased 32,000 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were purchased at an average price of $1.59 per share, with a total value of $50,880.00. Following the acquisition, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at approximately $1,019,379.21. This represents a 5.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daron Evans acquired 40,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were bought at an average cost of $1.77 per share, with a total value of $70,800.00. Following the completion of the acquisition, the chief financial officer directly owned 415,900 shares in the company, valued at $736,143. The trade was a 10.64% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 89,100 shares of company stock valued at $150,232. Corporate insiders own 14.78% of the company’s stock.

Institutional Trading of Rezolute

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in shares of Rezolute during the second quarter worth approximately $25,000. HB Wealth Management LLC bought a new position in shares of Rezolute during the 4th quarter valued at $26,000. Fifth Third Wealth Advisors LLC purchased a new position in Rezolute in the 4th quarter worth $29,000. Ameritas Investment Partners Inc. bought a new stake in Rezolute in the second quarter worth $30,000. Finally, Legal & General Group Plc bought a new stake in Rezolute in the second quarter worth $32,000. Hedge funds and other 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.