Rezolute (NASDAQ:RZLT) Releases Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) announced its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.11, MarketWatch Earnings reports.

Rezolute Stock Performance

Shares of Rezolute stock opened at $1.55 on Friday. The firm has a market cap of $57.09 million, a PE ratio of -1.38 and a beta of 2.16. Rezolute has a 1 year low of $1.34 and a 1 year high of $3.20. The firm’s 50-day simple moving average is $1.66 and its 200-day simple moving average is $1.94.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RZLT shares. JMP Securities reissued a “market outperform” rating and set a $8.00 price objective on shares of Rezolute in a research note on Friday. Cantor Fitzgerald dropped their target price on Rezolute from $7.00 to $5.00 in a report on Wednesday, June 28th.

Institutional Trading of Rezolute

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Rezolute by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock valued at $1,162,000 after buying an additional 10,500 shares during the period. Northern Trust Corp grew its holdings in shares of Rezolute by 15.0% during the second quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock valued at $170,000 after purchasing an additional 11,219 shares during the last quarter. Millennium Management LLC bought a new position in shares of Rezolute during the fourth quarter valued at approximately $32,000. Renaissance Technologies LLC bought a new position in shares of Rezolute during the second quarter valued at approximately $58,000. Finally, FMR LLC bought a new position in shares of Rezolute during the first quarter valued at approximately $39,000. Institutional investors own 65.79% 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.