Wedbush Has Bullish Forecast for Rezolute FY2029 Earnings

Rezolute, Inc. (NASDAQ:RZLT - Free Report) - Investment analysts at Wedbush boosted their FY2029 earnings estimates for Rezolute in a research note issued on Thursday, February 13th. Wedbush analyst Y. Zhong now anticipates that the company will post earnings per share of $0.46 for the year, up from their prior estimate of $0.45. Wedbush has a "Outperform" rating and a $112.00 price target on the stock. The consensus estimate for Rezolute's current full-year earnings is ($0.93) per share.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11.

Other analysts also recently issued research reports about the stock. Craig Hallum raised shares of Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. JMP Securities lifted their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 13th. Guggenheim restated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Finally, HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $24.38.

Rezolute Trading Up 1.8 %

Shares of RZLT traded up $0.08 during midday trading on Monday, reaching $4.63. The stock had a trading volume of 337,775 shares, compared to its average volume of 529,148. The firm has a market cap of $280.28 million, a PE ratio of -3.80 and a beta of 1.10. The firm has a 50 day simple moving average of $4.84 and a 200-day simple moving average of $4.90. Rezolute has a one year low of $1.45 and a one year high of $6.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rezolute in the 3rd quarter valued at about $65,000. Jacobs Levy Equity Management Inc. bought a new stake in Rezolute in the 3rd quarter valued at about $239,000. State Street Corp increased its position in Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company's stock valued at $609,000 after buying an additional 13,000 shares in the last quarter. XTX Topco Ltd increased its position in Rezolute by 67.4% in the 3rd quarter. XTX Topco Ltd now owns 56,375 shares of the company's stock valued at $273,000 after buying an additional 22,704 shares in the last quarter. Finally, MML Investors Services LLC bought a new stake in Rezolute in the 3rd quarter valued at about $57,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 company 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.