Rezolute (NASDAQ:RZLT) Receives “Market Outperform” Rating from JMP Securities

Rezolute (NASDAQ:RZLT)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a report released on Friday, Benzinga reports. They presently have a $8.00 target price on the stock. JMP Securities’ price objective indicates a potential upside of 433.33% from the company’s current price.

Separately, Cantor Fitzgerald reduced their price target on shares of Rezolute from $7.00 to $5.00 in a report on Wednesday, June 28th.

Rezolute Price Performance

NASDAQ RZLT traded down $0.05 during trading hours on Friday, hitting $1.50. 33,425 shares of the company’s stock traded hands, compared to its average volume of 30,432. The company has a market capitalization of $55.25 million, a PE ratio of -1.38 and a beta of 2.16. The firm’s 50-day moving average is $1.66 and its 200-day moving average is $1.95. Rezolute has a 52-week low of $1.34 and a 52-week high of $3.20.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, September 14th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.11. Equities research analysts predict that Rezolute will post -1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of Rezolute in the fourth quarter worth $32,000. FMR LLC bought a new position in shares of Rezolute in the first quarter valued at about $39,000. Renaissance Technologies LLC bought a new stake in Rezolute during the 2nd quarter worth about $58,000. Charles Schwab Investment Management Inc. bought a new stake in Rezolute during the 4th quarter worth about $67,000. Finally, State Street Corp acquired a new position in shares of Rezolute in the 1st quarter valued at approximately $69,000. 65.79% of the stock is currently owned by institutional investors and hedge funds.

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.