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

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

Rezolute Price Performance

Shares of RZLT stock opened at $3.02 on Thursday. The stock’s fifty day moving average price is $4.14 and its 200 day moving average price is $4.70. Rezolute, Inc. has a 1-year low of $2.22 and a 1-year high of $6.19. The company has a market cap of $182.82 million, a price-to-earnings ratio of -2.48 and a beta of 0.95.

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

Institutional Trading of Rezolute

Several large investors have recently bought and sold shares of RZLT. Nantahala Capital Management LLC raised 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 last quarter. Adage Capital Partners GP L.L.C. raised its stake in Rezolute by 699.7% in 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 last quarter. Woodline Partners LP lifted its position 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 acquiring an additional 1,052,002 shares during the period. Susquehanna International Group LLP grew its stake in Rezolute by 749.0% during the 4th 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 during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Rezolute by 19.8% in the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,223 shares of the company’s stock valued at $2,578,000 after purchasing an additional 86,990 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

RZLT has been the topic of a number of recent research reports. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. JMP Securities lifted their price target on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock 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.