Rezolute (NASDAQ:RZLT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Rezolute (NASDAQ:RZLT) released its quarterly earnings results on Tuesday. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01, FiscalAI reports.

Rezolute Stock Up 4.1%

NASDAQ:RZLT traded up $0.13 during trading hours on Tuesday, reaching $3.30. The company had a trading volume of 1,340,193 shares, compared to its average volume of 2,793,798. The firm has a market cap of $315.81 million, a price-to-earnings ratio of -3.55 and a beta of 0.66. The business’s 50-day simple moving average is $3.13 and its two-hundred day simple moving average is $4.67. Rezolute has a twelve month low of $1.07 and a twelve month high of $11.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush raised shares of Rezolute from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $2.00 to $5.00 in a research note on Wednesday, March 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RZLT. ExodusPoint Capital Management LP purchased a new position in Rezolute during the fourth quarter worth about $25,000. BNP Paribas Financial Markets purchased a new position in Rezolute during the second quarter worth about $25,000. Hsbc Holdings PLC purchased a new position in Rezolute during the fourth quarter worth about $29,000. Legal & General Group Plc purchased a new position in Rezolute during the second quarter worth about $32,000. Finally, Jump Financial LLC purchased a new position in Rezolute during the fourth quarter worth about $36,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Rezolute

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.