Rezolute, Inc. (NASDAQ:RZLT) CEO Nevan C. Elam Purchases 12,302 Shares

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) CEO Nevan C. Elam purchased 12,302 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average cost of $2.85 per share, with a total value of $35,060.70. Following the acquisition, the chief executive officer now owns 224,119 shares in the company, valued at $638,739.15. This represents a 5.81 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Rezolute Trading Down 7.5 %

RZLT traded down $0.21 during mid-day trading on Friday, hitting $2.54. 332,083 shares of the stock were exchanged, compared to its average volume of 491,854. The firm's fifty day moving average is $4.10 and its two-hundred day moving average is $4.69. 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 $153.46 million, a PE ratio of -2.07 and a beta of 0.97.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.33) by $0.11. As a group, research analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current year.

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Wall Street Analyst Weigh In

Several research firms recently commented on RZLT. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Thursday, February 13th. Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. Guggenheim restated a "buy" rating on shares of Rezolute in a report on Monday, February 10th. Finally, JMP Securities lifted their price target on Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $24.38.

Institutional Trading of Rezolute

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC raised its stake in shares of Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after purchasing an additional 280,861 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Rezolute by 699.7% during 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 buying an additional 2,210,038 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Rezolute by 2,817.1% in 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 boosted its holdings in shares of Rezolute by 749.0% in the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock valued at $4,379,000 after acquiring an additional 788,349 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Rezolute by 19.8% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,223 shares of the company's stock worth $2,578,000 after acquiring an additional 86,990 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Company Profile

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.