Rezolute (NASDAQ:RZLT) Announces Earnings Results

Rezolute (NASDAQ:RZLT) posted its earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05), Zacks reports.

Rezolute Trading Down 1.6%

NASDAQ:RZLT opened at $3.67 on Wednesday. Rezolute has a 12-month low of $2.22 and a 12-month high of $6.19. The stock has a 50-day moving average price of $3.24 and a 200 day moving average price of $4.34. The stock has a market capitalization of $222.16 million, a P/E ratio of -3.01 and a beta of 1.01.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RZLT. Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Craig Hallum raised Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, JMP Securities raised their price objective on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $26.43.

Insider Buying and Selling

In other news, CEO Nevan C. Elam purchased 12,302 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was acquired at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the acquisition, the chief executive officer now directly owns 224,119 shares of the company’s stock, valued at $638,739.15. This represents a 5.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daron Evans bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was bought at an average price of $2.89 per share, with a total value of $28,900.00. Following the acquisition, the chief financial officer now owns 237,900 shares in the company, valued at approximately $687,531. This trade represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 39,060 shares of company stock worth $130,694. 18.39% of the stock is owned by corporate insiders.

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.