Rezolute (NASDAQ:RZLT) Issues Quarterly Earnings Results

Rezolute (NASDAQ:RZLT) released its earnings results on Wednesday. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11, Zacks reports.

Rezolute Stock Up 1.7 %

RZLT traded up $0.08 during midday trading on Wednesday, hitting $4.86. 332,859 shares of the company were exchanged, compared to its average volume of 557,039. The firm’s 50 day moving average price is $4.89 and its 200-day moving average price is $4.90. Rezolute has a 1-year low of $1.05 and a 1-year high of $6.19. The firm has a market capitalization of $281.59 million, a P/E ratio of -3.83 and a beta of 1.10.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RZLT shares. Wedbush reaffirmed an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Wednesday, February 5th. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a research note on Monday. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $24.13.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were bought at an average cost of $4.29 per share, with a total value of $42,900.00. Following the purchase, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.39% of the stock is owned by corporate insiders.

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.