Rezolute (NASDAQ:RZLT) Cut to “Strong Sell” at Zacks Research

Rezolute (NASDAQ:RZLT) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other research firms also recently commented on RZLT. BTIG Research lifted their price objective on Rezolute from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Rezolute in a research note on Tuesday, June 2nd. Citizens Jmp raised shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target on the stock in a report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Tuesday, April 21st. Finally, Guggenheim lifted their price target on shares of Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.38.

Rezolute Trading Up 5.5%

Shares of RZLT opened at $4.61 on Thursday. The company has a market cap of $443.90 million, a price-to-earnings ratio of -5.62 and a beta of 0.54. The business’s fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $3.47. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. As a group, research analysts forecast that Rezolute will post -0.69 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RZLT. BNP Paribas Financial Markets purchased a new position in shares of Rezolute during the 2nd quarter worth $25,000. ExodusPoint Capital Management LP bought a new position in Rezolute in the 4th quarter worth $25,000. HB Wealth Management LLC purchased a new position in Rezolute during the fourth quarter valued at $26,000. Fifth Third Wealth Advisors LLC purchased a new position in Rezolute during the fourth quarter valued at $29,000. Finally, Hsbc Holdings PLC purchased a new position in Rezolute during the fourth quarter valued at $29,000. 82.97% of the stock is currently owned by institutional investors.

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.