Rezolute (NASDAQ:RZLT) Stock Rating Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Rezolute from “hold” to “strong sell,” contrasting with a broader analyst consensus of “Moderate Buy,” supported by 12 Buy ratings and two Sell ratings.
• Rezolute shares opened at $4.23, with a market capitalization of approximately $409 million and a 52-week range of $1.07 to $11.46.
• The clinical-stage biopharmaceutical company reported quarterly EPS of -$0.20, missing the consensus estimate of -$0.15; analysts expect a full-year loss of about $0.63 per share.

Rezolute (NASDAQ:RZLT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

RZLT has been the subject of a number of other research reports. Citigroup restated an "outperform" rating on shares of Rezolute in a report on Tuesday, October 6th. Cantor Fitzgerald raised shares of Rezolute from a "neutral" rating to an "overweight" rating in a research report on Monday, October 5th. Craig Hallum upgraded shares of Rezolute from a "hold" rating to a "buy" rating and upped their target price for the company from $4.00 to $7.00 in a research note on Tuesday, September 29th. HC Wainwright lifted their price target on shares of Rezolute from $5.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, September 25th. Finally, Guggenheim boosted their price objective on shares of Rezolute from $6.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $11.22.

Rezolute Stock Performance

RZLT opened at $4.23 on Tuesday. The stock has a market capitalization of $409.16 million, a PE ratio of -5.57 and a beta of 0.53. The company's 50 day simple moving average is $4.44 and its 200 day simple moving average is $4.17. Rezolute has a 1 year low of $1.07 and a 1 year high of $11.46.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Thursday, September 24th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). As a group, sell-side analysts expect that Rezolute will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Auxano Advisors LLC bought a new position in Rezolute during the second quarter worth $52,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Rezolute during the second quarter worth $75,000. WINTON GROUP Ltd bought a new position in shares of Rezolute in the 2nd quarter worth about $88,000. Y Intercept Hong Kong Ltd bought a new position in shares of Rezolute in the 1st quarter worth about $90,000. Finally, Hsbc Holdings PLC lifted its position in shares of Rezolute by 189.4% in the 1st quarter. Hsbc Holdings PLC now owns 36,939 shares of the company's stock worth $113,000 after buying an additional 24,177 shares during the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Company Profile

Rezolute, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for metabolic diseases. The company's research is centered on conditions involving abnormal insulin signaling and glucose regulation, including rare disorders and complications associated with diabetes.

Rezolute's lead investigational product is RZ358, a human monoclonal antibody designed to reduce the effects of excessive insulin activity. The therapy is being developed primarily for congenital hyperinsulinism, a rare disorder in which the pancreas releases too much insulin and causes potentially dangerous episodes of low blood sugar.

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