Daron Evans Purchases 10,000 Shares of Rezolute, Inc. (NASDAQ:RZLT) Stock

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average cost of $2.89 per share, with a total value of $28,900.00. Following the completion of the purchase, the chief financial officer now directly owns 237,900 shares of the company’s stock, valued at approximately $687,531. This represents a 4.39 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rezolute Price Performance

Rezolute stock opened at $2.93 on Monday. The business has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $4.75. Rezolute, Inc. has a 12 month low of $2.22 and a 12 month high of $6.19. The stock has a market capitalization of $177.37 million, a PE ratio of -2.40 and a beta of 0.95.

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

Institutional Investors Weigh In On Rezolute

Institutional investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC raised its stake in shares of Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock worth $14,004,000 after buying an additional 280,861 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Rezolute by 699.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock worth $12,377,000 after acquiring an additional 2,210,038 shares in the last quarter. Woodline Partners LP lifted its holdings in Rezolute by 2,817.1% in the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock valued at $5,338,000 after acquiring an additional 1,052,002 shares during the period. Susquehanna International Group LLP boosted its position in shares of Rezolute by 749.0% during the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock worth $4,379,000 after purchasing an additional 788,349 shares in the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Rezolute by 19.8% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 526,223 shares of the company’s stock worth $2,578,000 after purchasing an additional 86,990 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RZLT. Guggenheim reissued a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research report on Thursday, February 13th. JMP Securities increased their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rezolute currently has an average rating of “Buy” and an average price target 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.