Rezolute (NASDAQ:RZLT) Trading Down 6.4% - Time to Sell?

Key Points

• Rezolute's stock price dropped 6.4% to $9.20, marking a significant decline in trading volume, which fell by 68% compared to its average daily volume.
• Analyst ratings on Rezolute vary, with Guggenheim maintaining a "buy" rating at a $15.00 target and Weiss Ratings issuing a "sell" rating.
• Rezolute's market cap is approximately $805.21 million, and the company reported a loss of ($0.26) EPS in its last earnings results, missing expectations.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report)'s share price was down 6.4% on Thursday . The company traded as low as $9.16 and last traded at $9.20. Approximately 329,168 shares were traded during trading, a decline of 68% from the average daily volume of 1,022,754 shares. The stock had previously closed at $9.83.

Analyst Ratings Changes

RZLT has been the subject of several analyst reports. Guggenheim reiterated a "buy" rating and set a $15.00 price objective on shares of Rezolute in a report on Monday, September 22nd. Maxim Group increased their price objective on Rezolute from $15.00 to $20.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Wedbush reiterated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a report on Thursday, September 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Rezolute in a report on Wednesday, October 8th. Finally, BTIG Research reiterated a "buy" rating and set a $17.00 price objective on shares of Rezolute in a report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Rezolute currently has an average rating of "Moderate Buy" and an average price target of $14.50.

Rezolute Stock Performance

The company has a market cap of $805.21 million, a PE ratio of -9.15 and a beta of 0.04. The stock has a 50 day moving average of $8.04 and a 200-day moving average of $5.62.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results on Wednesday, September 17th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.03). Equities research analysts forecast that Rezolute, Inc. will post -0.93 EPS for the current year.

Hedge Funds Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RZLT. BNP Paribas Financial Markets purchased a new position in Rezolute in the 2nd quarter worth $25,000. Ameritas Investment Partners Inc. purchased a new position in Rezolute in the 2nd quarter worth $30,000. Legal & General Group Plc purchased a new position in Rezolute in the 2nd quarter worth $32,000. Jeppson Wealth Management LLC purchased a new position in Rezolute in the 1st quarter worth $35,000. Finally, Raymond James Financial Inc. purchased a new position in Rezolute in the 2nd quarter worth $46,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.

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