Rezolute (NASDAQ:RZLT) Posts Earnings Results, Beats Estimates By $0.11 EPS

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

Rezolute Price Performance

Shares of NASDAQ:RZLT opened at $1.55 on Friday. The company has a market cap of $57.09 million, a price-to-earnings ratio of -1.38 and a beta of 2.16. The firm has a 50 day simple moving average of $1.66 and a 200 day simple moving average of $1.94. Rezolute has a one year low of $1.34 and a one year high of $3.20.

Hedge Funds Weigh In On Rezolute

Several institutional investors and hedge funds have recently added to or reduced their stakes in RZLT. Northern Trust Corp increased its position in Rezolute by 15.0% in the 2nd quarter. Northern Trust Corp now owns 86,018 shares of the company’s stock valued at $170,000 after acquiring an additional 11,219 shares during the period. FMR LLC acquired a new stake in shares of Rezolute during the first quarter worth $39,000. Stonepine Capital Management LLC increased its position in shares of Rezolute by 1.6% during the fourth quarter. Stonepine Capital Management LLC now owns 3,021,504 shares of the company’s stock worth $6,255,000 after buying an additional 48,299 shares during the period. Millennium Management LLC acquired a new stake in Rezolute in the fourth quarter worth $32,000. Finally, First Manhattan Co. grew its holdings in Rezolute by 72.0% in the fourth quarter. First Manhattan Co. now owns 3,123,078 shares of the company’s stock worth $6,465,000 after purchasing an additional 1,307,273 shares during the period. Institutional investors own 65.79% of the company’s stock.

Wall Street Analyst Weigh In

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

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.