Rezolute (NASDAQ:RZLT) Stock Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• Rezolute shares fell below their 200-day moving average, trading as low as $3.85 and last at $3.87, versus a 200-day average of $3.92.
• Analyst views are mixed, but the consensus remains “Moderate Buy”: 12 analysts rate the stock Buy and two rate it Sell, with an average price target of $11.22.
• Rezolute reported a quarterly loss of $0.18 per share, slightly better than analysts’ expected loss of $0.19 per share.

Shares of Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $3.92 and traded as low as $3.85. Rezolute shares last traded at $3.87, with a volume of 1,088,770 shares.

Wall Street Analysts Forecast Growth

RZLT has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rezolute in a report on Thursday, October 15th. Zacks Research cut Rezolute from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. HC Wainwright lifted their price objective on shares of Rezolute from $5.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Cantor Fitzgerald raised shares of Rezolute from a "neutral" rating to an "overweight" rating in a report on Monday, October 5th. Finally, Lake Street Capital boosted their target price on shares of Rezolute from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Rezolute currently has a consensus rating of "Moderate Buy" and an average target price of $11.22.

Rezolute Stock Down 4.9%

The firm has a market cap of $374.35 million, a P/E ratio of -5.09 and a beta of 0.65. The company has a 50 day moving average of $4.09 and a two-hundred day moving average of $3.92.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.01. Research analysts expect that Rezolute, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AlphaCentric Advisors LLC increased its holdings in shares of Rezolute by 4.5% in the third quarter. AlphaCentric Advisors LLC now owns 75,495 shares of the company's stock valued at $313,000 after buying an additional 3,240 shares in the last quarter. Auxano Advisors LLC bought a new stake in shares of Rezolute during the 2nd quarter worth $52,000. Sequoia Financial Advisors LLC bought a new stake in shares of Rezolute during the 2nd quarter worth $75,000. WINTON GROUP Ltd bought a new stake in shares of Rezolute during the 2nd quarter worth $88,000. Finally, ADAR1 Capital Management LLC grew its holdings in shares of Rezolute by 51.7% in the 1st quarter. ADAR1 Capital Management LLC now owns 58,679 shares of the company's stock worth $179,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Rezolute Company Profile

Rezolute, Inc. is a clinical-stage biopharmaceutical company based in Redwood City, California. It develops treatments for rare diseases, with a focus on conditions that cause dangerously low blood sugar. The company's lead drug candidate, ersodetug (formerly RZ358), is an investigational monoclonal antibody designed to modulate insulin-receptor signaling. Rezolute is studying it for congenital hyperinsulinism, a rare disorder in which the body produces too much insulin, and other forms of severe hypoglycemia.

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