Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) Director Acquires $47,000.00 in Stock

Rezolute, Inc. (NASDAQ:RZLT) Director Wladimir Hogenhuis bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $4.70 per share, with a total value of $47,000.00. Following the purchase, the director now directly owns 77,267 shares of the company’s stock, valued at approximately $363,154.90. This represents a 14.87 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rezolute Price Performance

Rezolute stock opened at $4.53 on Friday. The company has a market cap of $274.20 million, a P/E ratio of -3.71 and a beta of 1.10. Rezolute, Inc. has a fifty-two week low of $1.49 and a fifty-two week high of $6.19. The firm’s 50 day simple moving average is $4.84 and its 200-day simple moving average is $4.91.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, analysts expect that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rezolute during the third quarter worth approximately $65,000. Jacobs Levy Equity Management Inc. bought a new position in Rezolute during the third quarter valued at approximately $239,000. State Street Corp lifted its stake in shares of Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after purchasing an additional 13,000 shares during the last quarter. XTX Topco Ltd raised its holdings in Rezolute by 67.4% during the third quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock valued at $273,000 after buying an additional 22,704 shares in the last quarter. Finally, MML Investors Services LLC bought a new position in shares of Rezolute in the 3rd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RZLT. Wedbush reissued an “outperform” rating and issued a $112.00 price target on shares of Rezolute in a report on Monday, November 4th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a report on Monday, February 10th. JMP Securities raised their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.38.

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.