Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Rezolute (NASDAQ:RZLT) announced its quarterly earnings data on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06), FiscalAI reports.

Rezolute Price Performance

Shares of NASDAQ:RZLT opened at $3.84 on Friday. The stock has a market capitalization of $356.08 million, a P/E ratio of -4.13 and a beta of 0.46. The business has a 50-day moving average of $3.13 and a two-hundred day moving average of $6.52. Rezolute has a fifty-two week low of $1.07 and a fifty-two week high of $11.46.

Insider Buying and Selling

In related news, CEO Nevan C. Elam bought 32,000 shares of Rezolute stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of $1.59 per share, for a total transaction of $50,880.00. Following the acquisition, the chief executive officer owned 641,119 shares in the company, valued at $1,019,379.21. This trade represents a 5.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daron Evans purchased 40,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 89,100 shares of company stock worth $150,232 over the last three months. 14.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Affinity Asset Advisors LLC grew its position in shares of Rezolute by 12.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 2,351,144 shares of the company’s stock valued at $5,549,000 after purchasing an additional 251,144 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Rezolute by 163.6% in the 4th quarter. Rafferty Asset Management LLC now owns 139,394 shares of the company’s stock valued at $329,000 after buying an additional 86,507 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rezolute by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 665,158 shares of the company’s stock worth $1,570,000 after purchasing an additional 13,019 shares during the period. State Street Corp lifted its position in shares of Rezolute by 90.4% during the 4th quarter. State Street Corp now owns 3,981,708 shares of the company’s stock worth $9,397,000 after buying an additional 1,890,232 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Rezolute by 82.5% during the fourth quarter. Wells Fargo & Company MN now owns 89,649 shares of the company’s stock valued at $212,000 after acquiring an additional 40,513 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on RZLT. Craig Hallum cut shares of Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. 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 note on Saturday, December 13th. Maxim Group set a $4.00 price target on shares of Rezolute in a research note on Friday, December 12th. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price objective on shares of Rezolute in a research report on Friday, December 5th. Finally, Cantor Fitzgerald downgraded Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

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.