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

Rezolute, Inc. (NASDAQ:RZLT) CEO Nevan C. Elam acquired 12,302 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $2.85 per share, with a total value of $35,060.70. Following the transaction, the chief executive officer now directly owns 224,119 shares of the company’s stock, valued at approximately $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Rezolute Stock Down 1.0 %

Shares of NASDAQ RZLT opened at $2.90 on Tuesday. Rezolute, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.19. The business has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $4.73. The firm has a market cap of $175.55 million, a PE ratio of -2.38 and a beta of 0.95.

Rezolute (NASDAQ:RZLT) last released 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. On average, analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RZLT. JPMorgan Chase & Co. acquired a new stake in shares of Rezolute in the 3rd quarter valued at about $42,000. Alpine Global Management LLC acquired a new stake in Rezolute during the fourth quarter valued at approximately $54,000. MML Investors Services LLC acquired a new stake in Rezolute during the third quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rezolute during the 3rd quarter worth approximately $65,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after acquiring an additional 9,000 shares in the last quarter. 82.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RZLT has been the subject of several recent research reports. JMP Securities increased 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. Guggenheim reissued a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday, February 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price 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.