Nevan C. Elam Buys 12,302 Shares of Rezolute, Inc. (NASDAQ:RZLT) Stock

Rezolute, Inc. (NASDAQ:RZLT) CEO Nevan C. Elam bought 12,302 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $2.85 per share, with a total value of $35,060.70. Following the completion of the transaction, the chief executive officer now owns 224,119 shares of the company’s stock, valued at $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Rezolute Stock Up 0.7 %

RZLT opened at $2.92 on Wednesday. Rezolute, Inc. has a twelve month low of $2.22 and a twelve month high of $6.19. The company’s 50-day moving average price is $4.18 and its two-hundred day moving average price is $4.72. The stock has a market cap of $176.76 million, a price-to-earnings ratio of -2.39 and a beta of 0.95.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.11. As a group, sell-side analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Rezolute during the third quarter valued at about $42,000. Alpine Global Management LLC purchased a new stake in shares of Rezolute during the 4th quarter valued at approximately $54,000. MML Investors Services LLC purchased a new position in Rezolute in the 3rd quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rezolute during the 3rd quarter valued at $65,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after acquiring an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Wall Street Analysts Forecast Growth

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