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

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

Rezolute Stock Performance

NASDAQ RZLT traded up $0.04 on Friday, reaching $2.96. The company’s stock had a trading volume of 399,227 shares, compared to its average volume of 481,652. Rezolute, Inc. has a twelve month low of $2.21 and a twelve month high of $6.19. The firm’s 50 day moving average is $4.30 and its two-hundred day moving average is $4.77. The stock has a market cap of $178.88 million, a PE ratio of -2.41 and a beta of 0.95.

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

Wall Street Analyst Weigh In

RZLT has been the subject of a number of recent analyst reports. Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Thursday, February 13th. JMP Securities increased their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rezolute currently has an average rating of “Buy” and an average target price of $24.38.

Institutional Investors Weigh In On Rezolute

Large investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its position in shares of Rezolute by 699.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock worth $12,377,000 after purchasing an additional 2,210,038 shares during the period. Woodline Partners LP raised its holdings in Rezolute by 2,817.1% during the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock worth $5,338,000 after buying an additional 1,052,002 shares during the period. Susquehanna International Group LLP lifted its stake in Rezolute by 749.0% during the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after buying an additional 788,349 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Rezolute in the fourth quarter worth about $2,408,000. Finally, Nantahala Capital Management LLC boosted its holdings in shares of Rezolute by 10.9% in 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 during the period. 82.97% of the stock is owned by institutional investors.

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.