Rezolute, Inc. (NASDAQ:RZLT) CEO Purchases $35,060.70 in Stock

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

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $3.02 on Thursday. The firm has a fifty day moving average of $4.14 and a 200 day moving average of $4.70. The firm has a market cap of $182.82 million, a PE ratio of -2.48 and a beta of 0.95. Rezolute, Inc. has a one year low of $2.22 and a one year high of $6.19.

Rezolute (NASDAQ:RZLT) last released its 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. On average, equities analysts predict that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RZLT has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. JMP Securities boosted 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. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.38.

Hedge Funds Weigh In On Rezolute

Several hedge funds and other institutional investors have recently made changes to their positions in RZLT. Geode Capital Management LLC raised its stake in Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of Rezolute in the third quarter valued at about $57,000. JPMorgan Chase & Co. purchased a new position in shares of Rezolute in the third quarter worth about $42,000. State Street Corp grew its stake in Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Rezolute during the 3rd quarter valued at about $239,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

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.