HC Wainwright Issues Negative Forecast for Rezolute Earnings

Rezolute, Inc. (NASDAQ:RZLT) – Equities researchers at HC Wainwright decreased their FY2029 earnings per share (EPS) estimates for shares of Rezolute in a research note issued to investors on Wednesday, May 13th. HC Wainwright analyst D. Tsao now anticipates that the company will earn $0.17 per share for the year, down from their prior forecast of $0.25. The consensus estimate for Rezolute’s current full-year earnings is ($0.68) per share. HC Wainwright also issued estimates for Rezolute’s FY2030 earnings at $0.27 EPS.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01.

Several other brokerages also recently commented on RZLT. Wedbush raised Rezolute from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $2.00 to $5.00 in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research note on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $8.00.

Rezolute Trading Up 0.9%

Shares of Rezolute stock opened at $3.33 on Thursday. The company has a market capitalization of $318.68 million, a PE ratio of -4.06 and a beta of 0.66. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The stock’s fifty day simple moving average is $3.13 and its 200 day simple moving average is $4.58.

Institutional Trading of Rezolute

Several hedge funds and other institutional investors have recently modified their holdings of RZLT. RA Capital Management L.P. acquired a new stake in shares of Rezolute in the 4th quarter valued at about $21,665,000. Opaleye Management Inc. raised its stake in shares of Rezolute by 595.9% in 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 during the period. Jennison Associates LLC acquired a new stake in shares of Rezolute in the 1st quarter valued at about $10,489,000. Balyasny Asset Management L.P. raised its stake in shares of Rezolute by 147.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 4,506,861 shares of the company’s stock valued at $10,636,000 after purchasing an additional 2,684,133 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after purchasing an additional 2,500,000 shares during the period. Institutional investors and hedge funds 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.