Rezolute (NASDAQ:RZLT) Posts Earnings Results, Beats Estimates By $0.09 EPS

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

Rezolute Stock Up 12.1%

NASDAQ RZLT traded up $1.16 during midday trading 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 stock has a market cap of $977.33 million, a price-to-earnings ratio of -11.57 and a beta of 0.07. The firm has a fifty day simple moving average of $8.66 and a two-hundred day simple moving average of $6.21. Rezolute has a fifty-two week low of $2.21 and a fifty-two week high of $10.94.

Analyst Ratings Changes

Several equities analysts have commented on the company. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, September 3rd. Maxim Group upped their price objective on shares of Rezolute from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. JMP Securities set a $17.00 target price on shares of Rezolute in a research note on Wednesday, October 29th. Citigroup reiterated an “outperform” rating on shares of Rezolute in a report on Wednesday, October 29th. Finally, Citizens Jmp upped their price target on shares of Rezolute from $9.00 to $17.00 and gave the company a “market outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently added to or reduced their stakes in RZLT. Vanguard Group Inc. increased its stake in Rezolute by 9.6% during the third quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after acquiring an additional 387,502 shares during the period. Nantahala Capital Management LLC increased its position in shares of Rezolute by 77.4% during the second quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock valued at $10,220,000 after purchasing an additional 1,000,000 shares during the period. Rosalind Advisors Inc. acquired a new position in shares of Rezolute in the second quarter valued at $7,766,000. Opaleye Management Inc. lifted its position in Rezolute by 94.3% in the second quarter. Opaleye Management Inc. now owns 903,442 shares of the company’s stock worth $4,029,000 after purchasing an additional 438,442 shares during the period. Finally, Boothbay Fund Management LLC boosted its stake in Rezolute by 1,745.6% during the second quarter. Boothbay Fund Management LLC now owns 266,671 shares of the company’s stock worth $1,189,000 after buying an additional 252,222 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

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.