Rezolute (NASDAQ:RZLT) Insider Purchases 12,100 Shares

Rezolute, Inc. (NASDAQ:RZLT) insider Sunil Ratilal Karnawat bought 12,100 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of $1.62 per share, for a total transaction of $19,602.00. Following the completion of the purchase, the insider directly owned 71,542 shares of the company’s stock, valued at approximately $115,898.04. This trade represents a 20.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Rezolute Price Performance

Shares of NASDAQ RZLT traded down $0.17 during midday trading on Monday, hitting $1.63. 13,380,965 shares of the company’s stock were exchanged, compared to its average volume of 9,712,468. The firm’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $7.17. The company has a market cap of $151.15 million, a PE ratio of -1.75 and a beta of 0.21. Rezolute, Inc. has a twelve month low of $1.07 and a twelve month high of $11.46.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. Equities analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RZLT shares. Citizens Jmp downgraded shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research note on Thursday. BTIG Research reissued a “buy” rating and issued a $5.00 target price on shares of Rezolute in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a research note on Wednesday, October 8th. Craig Hallum cut Rezolute from a “buy” rating to a “hold” rating and set a $2.00 price objective for the company. in a research note on Thursday. Finally, Wedbush downgraded Rezolute from an “outperform” rating to a “neutral” rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.78.

Institutional Trading of Rezolute

A number of hedge funds have recently added to or reduced their stakes in RZLT. BNP Paribas Financial Markets purchased a new position in shares of Rezolute in the 2nd quarter valued at approximately $25,000. Ameritas Investment Partners Inc. purchased a new position in Rezolute during the 2nd quarter worth $30,000. Legal & General Group Plc acquired a new stake in shares of Rezolute in the 2nd quarter worth $32,000. Raymond James Financial Inc. purchased a new stake in shares of Rezolute in the second quarter valued at about $46,000. Finally, Paloma Partners Management Co acquired a new position in shares of Rezolute during the first quarter worth about $48,000. 82.97% of the stock is owned by institutional investors and hedge funds.

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.