Young-Jin Kim Acquires 1,230,769 Shares of Rezolute, Inc. (NASDAQ:RZLT) Stock

Rezolute, Inc. (NASDAQ:RZLT) Director Young-Jin Kim acquired 1,230,769 shares of Rezolute stock in a transaction that occurred on Friday, June 13th. The shares were purchased at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the purchase, the director now owns 8,423,386 shares in the company, valued at $27,376,004.50. This represents a 17.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rezolute Price Performance

NASDAQ:RZLT traded down $0.03 during trading hours on Monday, hitting $4.08. 174,583 shares of the company were exchanged, compared to its average volume of 582,874. Rezolute, Inc. has a 52-week low of $2.22 and a 52-week high of $6.19. The stock has a market capitalization of $348.58 million, a price-to-earnings ratio of -3.53 and a beta of 1.04. The company’s 50 day moving average price is $3.82 and its 200-day moving average price is $4.09.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). On average, equities analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Institutional Trading of Rezolute

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RZLT shares. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Monday, April 28th. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $12.00 price target on shares of Rezolute in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

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.