Rezolute (NASDAQ:RZLT) Announces Earnings Results

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

Rezolute Stock Performance

Shares of RZLT stock opened at $1.89 on Friday. Rezolute has a 52 week low of $1.34 and a 52 week high of $3.20. The company has a market capitalization of $69.61 million, a price-to-earnings ratio of -1.38 and a beta of 2.16. The company has a 50-day simple moving average of $1.66 and a 200 day simple moving average of $1.95.

Analyst Ratings Changes

Separately, Cantor Fitzgerald cut their target price on Rezolute from $7.00 to $5.00 in a research note on Wednesday, June 28th.

Institutional Trading of Rezolute

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Rezolute by 3.2% during the first quarter. Vanguard Group Inc. now owns 343,739 shares of the company’s stock worth $1,162,000 after purchasing an additional 10,500 shares during the period. Northern Trust Corp grew its position in Rezolute by 15.0% during the second quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock worth $170,000 after buying an additional 11,219 shares in the last quarter. Millennium Management LLC bought a new position in Rezolute during the 4th quarter worth $32,000. Renaissance Technologies LLC acquired a new position in Rezolute in the 2nd quarter valued at $58,000. Finally, FMR LLC bought a new stake in shares of Rezolute during the 1st quarter valued at $39,000. 65.79% of the stock is currently owned by institutional investors.

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.