Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Rezolute (NASDAQ:RZLT) issued its earnings results on Thursday. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09, FiscalAI reports.

Rezolute Stock Up 12.1%

RZLT traded up $1.16 on Friday, hitting $10.76. The company had a trading volume of 2,048,771 shares, compared to its average volume of 1,493,891. The business’s fifty day simple moving average is $8.66 and its 200 day simple moving average is $6.21. Rezolute has a 12-month low of $2.21 and a 12-month high of $10.94. The company has a market cap of $977.33 million, a PE ratio of -11.57 and a beta of 0.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Rezolute during the second quarter valued at $25,000. Legal & General Group Plc purchased a new position in shares of Rezolute during the 2nd quarter worth about $32,000. Raymond James Financial Inc. bought a new position in Rezolute during the 2nd quarter valued at about $46,000. New York State Common Retirement Fund purchased a new stake in Rezolute in the 2nd quarter worth about $104,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Rezolute in the second quarter worth about $106,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on RZLT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Citizens Jmp raised their price objective on shares of Rezolute from $9.00 to $17.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 29th. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, September 3rd. Citigroup restated an “outperform” rating on shares of Rezolute in a research report on Wednesday, October 29th. Finally, Maxim Group upped their price objective on Rezolute from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.