Rezolute (NASDAQ:RZLT) Announces Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) posted its quarterly earnings results on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06), FiscalAI reports.

Rezolute Stock Performance

RZLT stock traded up $0.26 during trading on Thursday, reaching $3.63. 3,677,946 shares of the company were exchanged, compared to its average volume of 3,901,339. The stock’s 50 day moving average price is $3.39 and its 200 day moving average price is $6.56. Rezolute has a 52-week low of $1.07 and a 52-week high of $11.46. The company has a market cap of $336.60 million, a P/E ratio of -3.90 and a beta of 0.46.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BTIG Research reiterated a “buy” rating and set a $5.00 price target on shares of Rezolute in a report on Thursday, January 8th. HC Wainwright lowered their target price on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Citizens Jmp cut Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 target price on shares of Rezolute in a research report on Friday, December 5th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rezolute presently has an average rating of “Hold” and a consensus price target of $8.67.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans bought 40,000 shares of the stock in a transaction on Monday, December 15th. The shares were bought at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the acquisition, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. This trade represents a 10.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nevan C. Elam acquired 32,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $50,880.00. Following the completion of the purchase, the chief executive officer owned 641,119 shares in the company, valued at $1,019,379.21. The trade was a 5.25% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 89,100 shares of company stock valued at $150,232. 14.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Rezolute by 17.8% during the fourth quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock worth $39,022,000 after buying an additional 2,500,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in Rezolute by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,410,082 shares of the company’s stock valued at $41,455,000 after acquiring an additional 387,502 shares during the last quarter. Nantahala Capital Management LLC grew its position in shares of Rezolute by 77.4% in the second quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock valued at $10,220,000 after purchasing an additional 1,000,000 shares during the period. Geode Capital Management LLC increased its stake in Rezolute by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,954,733 shares of the company’s stock valued at $4,614,000 after purchasing an additional 107,349 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in Rezolute during the third quarter worth about $17,134,000. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.