Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) Director Acquires 1,230,769 Shares of Stock

Rezolute, Inc. (NASDAQ:RZLTGet Free Report) Director Young-Jin Kim acquired 1,230,769 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was acquired at an average price of $3.25 per share, for a total transaction of $3,999,999.25. Following the purchase, the director now directly owns 8,423,386 shares of the company’s stock, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rezolute Stock Performance

Shares of NASDAQ RZLT opened at $4.33 on Thursday. The company has a market capitalization of $370.30 million, a PE ratio of -3.77 and a beta of 1.04. The company’s fifty day moving average price is $3.92 and its 200 day moving average price is $4.09. Rezolute, Inc. has a 1 year low of $2.22 and a 1 year high of $6.19.

Rezolute (NASDAQ:RZLTGet Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). On average, equities analysts expect that Rezolute, Inc. will post -0.93 EPS for the current year.

Wall Street Analyst Weigh In

RZLT has been the subject of a number of research reports. Wall Street Zen downgraded shares of Rezolute from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a report on Monday, April 28th. Finally, Wedbush restated an “outperform” rating and issued a $12.00 target price on shares of Rezolute in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Read Our Latest Stock Analysis on Rezolute

Hedge Funds Weigh In On Rezolute

Institutional investors and hedge funds have recently modified their holdings of the business. Man Group plc purchased a new position in Rezolute during the fourth quarter worth approximately $425,000. Geode Capital Management LLC grew its stake in Rezolute by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock valued at $2,535,000 after acquiring an additional 25,413 shares during the period. Ameriprise Financial Inc. purchased a new stake in Rezolute in the 4th quarter worth $342,000. Barclays PLC acquired a new position in Rezolute during the fourth quarter worth $314,000. Finally, Nantahala Capital Management LLC raised 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 worth $14,004,000 after acquiring an additional 280,861 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.

About Rezolute

(Get Free Report)

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.

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