Rezolute (NASDAQ:RZLT) Insider Sunil Ratilal Karnawat Buys 12,100 Shares of Stock

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

Rezolute Price Performance

Rezolute stock opened at $1.63 on Tuesday. Rezolute, Inc. has a 12-month low of $1.07 and a 12-month high of $11.46. The stock has a market capitalization of $151.15 million, a PE ratio of -1.75 and a beta of 0.21. The firm has a 50 day simple moving average of $9.00 and a 200-day simple moving average of $7.17.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, November 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.09. On average, analysts forecast that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on RZLT shares. Guggenheim cut their price objective on Rezolute from $15.00 to $6.00 and set a “buy” rating for the company in a report on Friday. Maxim Group set a $4.00 target price on Rezolute in a report on Friday. JMP Securities set a $17.00 price target on shares of Rezolute in a report on Wednesday, October 29th. BTIG Research restated a “buy” rating and set a $5.00 price objective on shares of Rezolute in a research report on Thursday. Finally, Citigroup cut shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.78.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in shares of Rezolute by 24.4% in the 2nd quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock valued at $62,595,000 after acquiring an additional 2,755,385 shares in the last quarter. Stonepine Capital Management LLC acquired a new stake in Rezolute during the 2nd quarter valued at $977,000. Acadian Asset Management LLC raised its stake in Rezolute by 9.0% during the 1st quarter. Acadian Asset Management LLC now owns 605,042 shares of the company’s stock valued at $1,752,000 after purchasing an additional 50,163 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in shares of Rezolute by 335.4% in the first quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company’s stock valued at $611,000 after purchasing an additional 162,216 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Rezolute by 56.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock worth $345,000 after buying an additional 42,900 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

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.