Insider Buying: Rezolute, Inc. (NASDAQ:RZLT) CFO Purchases $28,900.00 in Stock

Rezolute, Inc. (NASDAQ:RZLT) CFO Daron Evans acquired 10,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $28,900.00. Following the completion of the acquisition, the chief financial officer now owns 237,900 shares of the company’s stock, valued at $687,531. This trade represents a 4.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rezolute Stock Performance

NASDAQ:RZLT opened at $2.93 on Monday. Rezolute, Inc. has a one year low of $2.22 and a one year high of $6.19. The stock has a market cap of $177.37 million, a PE ratio of -2.40 and a beta of 0.95. The stock has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.75.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.11. As a group, analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Rezolute in a research note on Monday, February 10th. Craig Hallum raised Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, JMP Securities lifted their price target on Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rezolute has an average rating of “Buy” and an average target price of $24.38.

Hedge Funds Weigh In On Rezolute

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in shares of Rezolute during the 3rd quarter worth approximately $42,000. Alpine Global Management LLC acquired a new stake in Rezolute during the fourth quarter worth $54,000. MML Investors Services LLC purchased a new stake in Rezolute in the third quarter valued at $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rezolute in the 3rd quarter valued at $65,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Rezolute by 65.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after purchasing an additional 9,000 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

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.