Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) CFO Buys 10,000 Shares of Stock

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $4.29 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 150,900 shares in the company, valued at approximately $647,361. This represents a 7.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Daron Evans also recently made the following trade(s):

• On Thursday, December 12th, Daron Evans bought 9,000 shares of Rezolute stock. The shares were bought at an average cost of $4.60 per share, for a total transaction of $41,400.00.

Rezolute Trading Down 8.1 %

Shares of RZLT stock traded down $0.36 during trading hours on Wednesday, hitting $4.08. 306,062 shares of the company were exchanged, compared to its average volume of 426,941. The stock has a market capitalization of $236.41 million, a price-to-earnings ratio of -3.21 and a beta of 1.01. The firm has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $4.79. Rezolute, Inc. has a 52-week low of $0.86 and a 52-week high of $6.19.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). Sell-side analysts anticipate that Rezolute, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RZLT. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Friday, November 8th. Guggenheim assumed coverage on shares of Rezolute in a research report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of Rezolute in a research report on Friday, September 20th. Wedbush reiterated an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a research note on Monday, November 4th. Finally, BTIG Research boosted their target price on Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $24.13.

Hedge Funds Weigh In On Rezolute

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its stake in Rezolute by 11.1% in the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after buying an additional 1,125,000 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Rezolute by 15.6% during the second quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after buying an additional 250,000 shares during the period. Marshall Wace LLP purchased a new position in Rezolute in the 2nd quarter worth approximately $4,503,000. Geode Capital Management LLC raised its position in Rezolute by 39.0% during the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock valued at $2,385,000 after purchasing an additional 137,905 shares in the last quarter. Finally, Exome Asset Management LLC lifted its position in Rezolute by 24.7% in the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock worth $1,707,000 after buying an additional 69,656 shares during the last quarter. Institutional investors own 82.97% of the company’s stock.

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.