Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans Buys 10,000 Shares

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans purchased 10,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were bought at an average cost of $2.89 per share, for a total transaction of $28,900.00. Following the transaction, the chief financial officer now directly owns 237,900 shares in the company, valued at approximately $687,531. The trade was a 4.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rezolute Stock Up 0.3 %

Rezolute stock opened at $2.93 on Friday. Rezolute, Inc. has a twelve month low of $2.22 and a twelve month high of $6.19. The stock has a market cap of $177.37 million, a P/E ratio of -2.40 and a beta of 0.95. The company’s 50-day moving average price is $4.26 and its two-hundred day moving average price is $4.76.

Rezolute (NASDAQ:RZLT) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. Equities analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. Adage Capital Partners GP L.L.C. increased its stake in Rezolute by 699.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock worth $12,377,000 after acquiring an additional 2,210,038 shares during the period. Woodline Partners LP increased its position in shares of Rezolute by 2,817.1% in the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock worth $5,338,000 after purchasing an additional 1,052,002 shares during the period. Susquehanna International Group LLP raised its stake in Rezolute by 749.0% in the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after purchasing an additional 788,349 shares in the last quarter. Walleye Capital LLC bought a new stake in Rezolute during the fourth quarter worth about $2,408,000. Finally, Nantahala Capital Management LLC grew its stake in Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock worth $14,004,000 after buying an additional 280,861 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on RZLT. JMP Securities raised their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research note on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rezolute presently has an average rating of “Buy” and a consensus price target of $24.38.

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.