Rezolute (NASDAQ:RZLT) Posts Earnings Results

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

Rezolute Trading Up 8.0%

NASDAQ RZLT traded up $0.27 during mid-day trading on Thursday, reaching $3.64. 3,695,025 shares of the company’s stock traded hands, compared to its average volume of 3,901,339. The company has a fifty day simple moving average of $3.39 and a 200-day simple moving average of $6.56. Rezolute has a 1-year low of $1.07 and a 1-year high of $11.46. The company has a market cap of $337.53 million, a price-to-earnings ratio of -3.91 and a beta of 0.46.

Insiders Place Their Bets

In related news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average cost of $1.77 per share, with a total value of $70,800.00. Following the completion of the acquisition, the chief financial officer directly 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 SEC, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam bought 32,000 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was bought at an average price of $1.59 per share, for a total transaction of $50,880.00. Following the purchase, the chief executive officer owned 641,119 shares in the company, valued at approximately $1,019,379.21. This represents a 5.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 89,100 shares of company stock valued at $150,232. Insiders own 14.78% of the company’s stock.

Hedge Funds Weigh In On Rezolute

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Rezolute during the fourth quarter valued at $216,000. Dimensional Fund Advisors LP boosted its holdings in shares of Rezolute by 44.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 141,883 shares of the company’s stock valued at $335,000 after buying an additional 43,393 shares during the period. Federated Hermes Inc. grew its position in shares of Rezolute by 17.8% during the 4th quarter. Federated Hermes Inc. now owns 16,534,712 shares of the company’s stock valued at $39,022,000 after buying an additional 2,500,000 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Rezolute during the fourth quarter worth about $158,000. Finally, Knott David M Jr raised its stake in Rezolute by 23.6% during the fourth quarter. Knott David M Jr now owns 340,000 shares of the company’s stock worth $802,000 after acquiring an additional 65,000 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BTIG Research reissued a “buy” rating and set a $5.00 price target on shares of Rezolute in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a research note on Thursday, January 22nd. Guggenheim dropped their target price on shares of Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, December 12th. Maxim Group set a $4.00 price target on shares of Rezolute in a report on Friday, December 12th. Finally, HC Wainwright reduced their price target on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.67.

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.