Rezolute (NASDAQ:RZLT) Stock Price Down 3.6% - Time to Sell?

Key Points

• Rezolute, Inc. (NASDAQ:RZLT) experienced a stock price decline of 3.6%, trading between $7.58 and $7.42, with significantly reduced trading volume at only 26,765 shares.
• Despite the recent drop, analysts show a consensus rating of "Buy" for Rezolute, with a target price of $11.67, although Wall Street Zen has downgraded the stock from "hold" to "sell."
• Institutional investors now own 82.97% of Rezolute's stock, with recent significant changes in holdings by various hedge funds indicating ongoing interest in the company.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) was down 3.6% during trading on Monday . The company traded as low as $7.58 and last traded at $7.42. Approximately 26,765 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 916,096 shares. The stock had previously closed at $7.69.

Analyst Ratings Changes

A number of research analysts recently commented on RZLT shares. HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research note on Wednesday, September 3rd. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $11.67.

Rezolute Price Performance

The company has a market capitalization of $649.89 million, a price-to-earnings ratio of -6.50 and a beta of 0.02. The stock has a 50 day moving average price of $6.36 and a two-hundred day moving average price of $4.61.

Institutional Trading of Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Rosalind Advisors Inc. acquired a new stake in shares of Rezolute in the second quarter valued at $7,766,000. Opaleye Management Inc. boosted its holdings in Rezolute by 94.3% in the second quarter. Opaleye Management Inc. now owns 903,442 shares of the company's stock valued at $4,029,000 after acquiring an additional 438,442 shares during the last quarter. Massar Capital Management LP bought a new position in Rezolute in the second quarter valued at about $126,000. BNP Paribas Financial Markets bought a new position in Rezolute in the second quarter valued at about $25,000. Finally, Boothbay Fund Management LLC boosted its holdings in Rezolute by 1,745.6% in the second quarter. Boothbay Fund Management LLC now owns 266,671 shares of the company's stock valued at $1,189,000 after acquiring an additional 252,222 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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