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

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $4.29 per share, with a total value of $42,900.00. Following the acquisition, the chief financial officer now directly owns 150,900 shares in the company, valued at $647,361. The trade was a 7.10 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at 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, with a total value of $41,400.00.

Rezolute Price Performance

Rezolute stock opened at $4.23 on Friday. The firm has a market capitalization of $245.10 million, a P/E ratio of -3.33 and a beta of 1.01. Rezolute, Inc. has a 52-week low of $0.86 and a 52-week high of $6.19. The stock has a fifty day moving average price of $5.13 and a two-hundred day moving average price of $4.78.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.14). On average, equities research analysts predict that Rezolute, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Trading of Rezolute

A number of hedge funds and other institutional investors have recently made changes to their positions in RZLT. Virtu Financial LLC grew its holdings in Rezolute by 58.0% during the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after purchasing an additional 9,551 shares during the period. Jeppson Wealth Management LLC bought a new position in shares of Rezolute in the 2nd quarter worth about $45,000. MML Investors Services LLC acquired a new position in shares of Rezolute during the third quarter valued at about $57,000. State Street Corp lifted its holdings in shares of Rezolute by 11.6% in the third 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rezolute in the third quarter valued at approximately $65,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.