Rezolute (NASDAQ:RZLT) Cut to Sell at Wall Street Zen

Rezolute (NASDAQ:RZLT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Thursday.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a research report on Monday, April 28th. Wedbush reiterated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research report on Wednesday, May 14th. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. JMP Securities increased their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.14.

Rezolute Stock Up 1.9%

NASDAQ RZLT traded up $0.08 on Thursday, hitting $3.97. The company's stock had a trading volume of 395,843 shares, compared to its average volume of 587,093. Rezolute has a 1-year low of $2.22 and a 1-year high of $6.19. The company's 50-day moving average is $3.28 and its 200 day moving average is $4.22. The firm has a market cap of $240.02 million, a PE ratio of -3.24 and a beta of 1.01.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). On average, equities analysts expect that Rezolute will post -0.93 EPS for the current year.

Insider Buying and Selling

In related news, CFO Daron Evans bought 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were acquired at an average cost of $2.89 per share, with a total value of $28,900.00. Following the completion of the purchase, the chief financial officer now directly owns 237,900 shares in the company, valued at $687,531. The trade was a 4.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam bought 12,302 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average cost of $2.85 per share, for a total transaction of $35,060.70. Following the completion of the purchase, the chief executive officer now owns 224,119 shares of the company's stock, valued at $638,739.15. This represents a 5.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,060 shares of company stock valued at $83,694 over the last ninety days. 18.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RZLT. Nantahala Capital Management LLC increased its position in shares of Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after acquiring an additional 280,861 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Rezolute by 699.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock worth $12,377,000 after acquiring an additional 2,210,038 shares in the last quarter. Affinity Asset Advisors LLC increased its position in shares of Rezolute by 7.9% during the first quarter. Affinity Asset Advisors LLC now owns 1,700,000 shares of the company's stock worth $4,930,000 after acquiring an additional 125,000 shares in the last quarter. Woodline Partners LP increased its position in shares of Rezolute by 2,817.1% during the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock worth $5,338,000 after acquiring an additional 1,052,002 shares in the last quarter. Finally, Susquehanna International Group LLP increased its position in shares of Rezolute by 749.0% during the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock worth $4,379,000 after acquiring an additional 788,349 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

About Rezolute

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.