Rezolute (NASDAQ:RZLT) Insider Purchases $19,602.00 in Stock

Rezolute, Inc. (NASDAQ:RZLT) insider Sunil Ratilal Karnawat purchased 12,100 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were purchased at an average price of $1.62 per share, with a total value of $19,602.00. Following the completion of the acquisition, the insider directly owned 71,542 shares in the company, valued at $115,898.04. The trade was a 20.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rezolute Stock Down 0.5%

Shares of Rezolute stock opened at $2.01 on Thursday. The firm has a market cap of $186.39 million, a PE ratio of -2.16 and a beta of 0.21. Rezolute, Inc. has a 12-month low of $1.07 and a 12-month high of $11.46. The company’s fifty day simple moving average is $8.74 and its two-hundred day simple moving average is $7.12.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.09. As a group, sell-side analysts expect that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rezolute

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. boosted its holdings in shares of Rezolute by 24.4% during the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after buying an additional 2,755,385 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in Rezolute during the 3rd quarter valued at about $17,134,000. Rosalind Advisors Inc. purchased a new position in Rezolute during the 2nd quarter valued at about $7,766,000. Bank of America Corp DE boosted its stake in Rezolute by 1,578.5% during the third quarter. Bank of America Corp DE now owns 1,284,962 shares of the company’s stock worth $12,079,000 after acquiring an additional 1,208,408 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Rezolute by 201.7% in the second quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock worth $7,633,000 after purchasing an additional 1,143,834 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RZLT. JMP Securities set a $17.00 price objective on Rezolute in a report on Wednesday, October 29th. Craig Hallum downgraded Rezolute from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a report on Thursday, December 11th. BTIG Research reaffirmed a “buy” rating and issued a $5.00 price target on shares of Rezolute in a research note on Thursday, December 11th. Jefferies Financial Group reissued a “buy” rating and set a $20.00 price objective on shares of Rezolute in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Rezolute in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rezolute currently has a consensus rating of “Hold” and an average price target of $9.78.

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.