Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) CFO Buys 9,000 Shares of Stock

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans purchased 9,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $4.60 per share, with a total value of $41,400.00. Following the transaction, the chief financial officer now owns 140,900 shares in the company, valued at $648,140. This trade represents a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Rezolute Stock Down 6.1 %

Shares of RZLT traded down $0.30 on Thursday, hitting $4.64. The company’s stock had a trading volume of 510,923 shares, compared to its average volume of 427,870. The firm’s fifty day moving average price is $5.17 and its 200-day moving average price is $4.76. Rezolute, Inc. has a fifty-two week low of $0.76 and a fifty-two week high of $6.19. The firm has a market capitalization of $268.86 million, a price-to-earnings ratio of -3.63 and a beta of 1.01.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.14). As a group, equities analysts predict that Rezolute, Inc. will post -0.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RZLT has been the subject of a number of analyst reports. BTIG Research lifted their target price on shares of Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Friday, November 8th. Wedbush reissued an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a research note on Monday, November 4th. JMP Securities restated a “market outperform” rating and set a $7.00 target price on shares of Rezolute in a report on Friday, September 20th. Finally, Guggenheim initiated coverage on Rezolute in a research note on Tuesday, August 27th. They issued a “buy” rating and a $11.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $24.13.

Hedge Funds Weigh In On Rezolute

A number of large investors have recently added to or reduced their stakes in RZLT. Virtu Financial LLC grew its holdings in shares of Rezolute by 58.0% during the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares in the last quarter. Jeppson Wealth Management LLC acquired a new position in Rezolute during the 2nd quarter worth approximately $45,000. MML Investors Services LLC acquired a new position in Rezolute during the 3rd quarter worth approximately $57,000. State Street Corp grew its stake in shares of Rezolute by 11.6% during the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock worth $609,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rezolute in the third quarter valued at approximately $65,000. 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.