Analysts at HC Wainwright have revised their fiscal year 2030 earnings per share (EPS) estimates for Rezolute, Inc. Following a note issued to investors on December 12, 2023, analyst D. Tsao now forecasts an EPS of $0.37, a decrease from the previous estimate of $0.49. Despite this adjustment, HC Wainwright maintains a “Buy” rating for the stock, setting a target price of $5.00.
The consensus estimate for Rezolute’s current full-year earnings stands at ($0.93) per share, reflecting ongoing challenges within the company. On November 6, 2023, Rezolute reported quarterly earnings of ($0.18) per share, surpassing analysts’ expectations of ($0.27) by $0.09.
Market Response and Stock Performance
Following the news, shares of Rezolute (NASDAQ: RZLT) opened at $1.63 on December 15, 2023. The company currently has a market capitalization of $151.15 million and a price-to-earnings ratio of -1.75. The stock’s 50-day simple moving average is $9.00, while the 200-day simple moving average is $7.17. Over the past year, Rezolute has experienced a significant range in stock price, with a 12-month low of $1.07 and a high of $11.46.
Insider Trading Activity
In related developments, Daron Evans, the Chief Financial Officer, acquired 40,000 shares of Rezolute’s stock on December 15, 2023. The shares were purchased at an average price of $1.77 per share, totaling approximately $70,800. This purchase increased Evans’ ownership in the company to 415,900 shares, valued at around $736,143.
Additionally, Nevan C. Elam, the Chief Executive Officer, bought 32,000 shares at an average price of $1.59 per share, amounting to a transaction total of $50,880. Post-purchase, Elam holds 641,119 shares, worth approximately $1,019,379.21. This transaction represented a 5.25% increase in his stake.
Over the last 90 days, insiders at Rezolute have purchased a total of 89,100 shares valued at $150,232, indicating a strong confidence in the company’s future. Corporate insiders currently own 14.78% of the stock.
Institutional Investor Involvement
Recent trading activity shows that institutional investors have also been active in Rezolute. Notable transactions include BNP Paribas Financial Markets, which acquired a new stake worth approximately $25,000 in the second quarter. Other firms, such as Ameritas Investment Partners Inc., Legal & General Group Plc, and Raymond James Financial Inc., have also made investments ranging from $30,000 to $46,000 during the same period. Collectively, institutional investors hold 82.97% of Rezolute’s shares.
Company Overview
Rezolute, Inc. is a clinical-stage biopharmaceutical company based in the United States, focusing on therapies for metabolic diseases associated with chronic glucose imbalance. The company’s lead product candidate, RZ358, is a human monoclonal antibody currently undergoing Phase 2b clinical trials for the treatment of congenital hyperinsulinism, a rare pediatric genetic disorder.
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