Nevan C. Elam Purchases 12,302 Shares of Rezolute, Inc. (NASDAQ:RZLT) Stock

Rezolute, Inc. (NASDAQ:RZLT) CEO Nevan C. Elam purchased 12,302 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average cost of $2.85 per share, with a total value of $35,060.70. Following the purchase, the chief executive officer now owns 224,119 shares of the company’s stock, valued at $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rezolute Stock Down 4.7 %

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

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

Institutional Investors Weigh In On Rezolute

Several large investors have recently modified their holdings of the company. Nantahala Capital Management LLC boosted its position in Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock valued at $14,004,000 after acquiring an additional 280,861 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Rezolute by 699.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock valued at $12,377,000 after purchasing an additional 2,210,038 shares in the last quarter. Woodline Partners LP boosted its position in shares of Rezolute by 2,817.1% during the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock valued at $5,338,000 after purchasing an additional 1,052,002 shares in the last quarter. Susquehanna International Group LLP grew its stake in Rezolute by 749.0% during the fourth 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 during the period. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Rezolute by 19.8% in the fourth 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 in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on RZLT. JMP Securities boosted their target price on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.