HC Wainwright Has Weak Forecast for Rezolute FY2030 Earnings

Rezolute, Inc. (NASDAQ:RZLT) – Analysts at HC Wainwright reduced their FY2030 earnings estimates for shares of Rezolute in a research report issued to clients and investors on Friday, December 12th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of $0.37 per share for the year, down from their previous estimate of $0.49. HC Wainwright currently has a “Buy” rating and a $5.00 target price on the stock. The consensus estimate for Rezolute’s current full-year earnings is ($0.93) per share.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.09.

A number of other brokerages have also commented on RZLT. Guggenheim decreased their price objective on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, December 12th. Citizens Jmp lowered shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Cantor Fitzgerald cut shares of Rezolute from an “overweight” rating to a “neutral” rating in a research report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.78.

Rezolute Trading Up 23.9%

NASDAQ RZLT opened at $2.02 on Monday. The firm has a market cap of $187.31 million, a price-to-earnings ratio of -2.17 and a beta of 0.21. The company has a 50 day moving average of $8.87 and a 200-day moving average of $7.16. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46.

Hedge Funds Weigh In On Rezolute

Several institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in Rezolute by 24.4% in the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after acquiring an additional 2,755,385 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Rezolute in the third quarter valued at approximately $17,134,000. Rosalind Advisors Inc. bought a new stake in shares of Rezolute in the second quarter worth $7,766,000. Bank of America Corp DE lifted its position in shares of Rezolute by 1,578.5% in the third quarter. Bank of America Corp DE now owns 1,284,962 shares of the company’s stock worth $12,079,000 after purchasing an additional 1,208,408 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Rezolute by 201.7% during the second quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after purchasing an additional 1,143,834 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Nevan C. Elam acquired 32,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of $1.59 per share, with a total value of $50,880.00. Following the completion of the purchase, the chief executive officer directly owned 641,119 shares in the company, valued at approximately $1,019,379.21. This trade represents a 5.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daron Evans bought 40,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was bought at an average cost of $1.77 per share, for a total transaction of $70,800.00. Following the purchase, the chief financial officer directly owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 89,100 shares of company stock valued at $150,232 in the last ninety days. Company insiders own 14.78% 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.