Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) CEO Purchases 12,302 Shares of Stock

Rezolute, Inc. (NASDAQ:RZLT) CEO Nevan C. Elam bought 12,302 shares of the stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price 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 of the company’s stock, valued at $638,739.15. The trade was a 5.81 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rezolute Trading Down 4.7 %

Shares of Rezolute stock traded down $0.14 during trading on Monday, hitting $2.79. The stock had a trading volume of 93,083 shares, compared to its average volume of 549,484. The firm has a market cap of $169.01 million, a price-to-earnings ratio of -2.29 and a beta of 0.95. Rezolute, Inc. has a 12 month low of $2.22 and a 12 month high of $6.19. The business’s 50-day moving average is $4.26 and its 200 day moving average is $4.75.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RZLT. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. Finally, JMP Securities increased their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $24.38.

Institutional Investors Weigh In On Rezolute

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

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.