Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) CEO Buys 12,302 Shares of Stock

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

Rezolute Stock Performance

NASDAQ RZLT opened at $2.92 on Wednesday. The stock has a market cap of $176.76 million, a P/E ratio of -2.39 and a beta of 0.95. Rezolute, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.19. The stock has a 50 day simple moving average of $4.18 and a two-hundred day simple moving average of $4.72.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. Sell-side analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Rezolute by 39.0% during the 3rd 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 during the last quarter. MML Investors Services LLC bought a new position in shares of Rezolute in the third quarter worth approximately $57,000. JPMorgan Chase & Co. purchased a new stake in shares of Rezolute during the third quarter valued at approximately $42,000. State Street Corp increased its position in shares of Rezolute by 11.6% during the third quarter. State Street Corp now owns 125,472 shares of the company’s stock valued at $609,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Rezolute in the 3rd quarter worth approximately $239,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Craig Hallum upgraded Rezolute to a “strong-buy” rating in a research report on Tuesday, February 4th. JMP Securities upped their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rezolute currently has a consensus rating of “Buy” and an average price target of $24.38.

Rezolute Company Profile

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.