Rezolute (NASDAQ:RZLT) Releases Earnings Results, Misses Expectations By $0.06 EPS

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

Rezolute Stock Up 8.0%

NASDAQ:RZLT opened at $3.64 on Friday. The firm has a market cap of $337.54 million, a PE ratio of -3.91 and a beta of 0.46. Rezolute has a 12 month low of $1.07 and a 12 month high of $11.46. The company’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $6.54.

Wall Street Analyst Weigh In

RZLT has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Citizens Jmp cut shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 11th. BTIG Research reissued a “buy” rating and issued a $5.00 price target on shares of Rezolute in a research report on Thursday, January 8th. Cantor Fitzgerald cut shares of Rezolute from an “overweight” rating to a “neutral” rating in a research note on Thursday, December 11th. Finally, Wedbush lifted their price objective on Rezolute to $2.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Rezolute presently has a consensus rating of “Hold” and an average price target of $8.67.

Insider Buying and Selling

In other news, CFO Daron Evans bought 40,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was bought at an average price of $1.77 per share, for a total transaction of $70,800.00. Following the completion of the purchase, the chief financial officer owned 415,900 shares of the company’s stock, valued at approximately $736,143. The trade was a 10.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nevan C. Elam purchased 32,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were acquired at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 89,100 shares of company stock valued at $150,232 in the last quarter. 14.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Federated Hermes Inc. boosted its position in shares of Rezolute by 17.8% in the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock worth $39,022,000 after purchasing an additional 2,500,000 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in Rezolute during the 3rd quarter worth approximately $17,134,000. Rosalind Advisors Inc. acquired a new stake in shares of Rezolute during the second quarter worth $7,766,000. Bank of America Corp DE raised its stake in shares of Rezolute by 1,578.5% in the 3rd quarter. Bank of America Corp DE now owns 1,284,962 shares of the company’s stock valued at $12,079,000 after purchasing an additional 1,208,408 shares during the period. Finally, Nantahala Capital Management LLC lifted its stake in Rezolute by 77.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 2,291,395 shares of the company’s stock valued at $10,220,000 after acquiring an additional 1,000,000 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

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