Nevan Elam Buys 32,000 Shares of Rezolute (NASDAQ:RZLT) Stock

by · The Cerbat Gem

Rezolute, Inc. (NASDAQ:RZLT – Get Free Report) CEO Nevan Elam purchased 32,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were bought at an average cost of $1.59 per share, with a total value of $50,880.00. Following the transaction, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at $1,019,379.21. This represents a 5.25% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Rezolute Trading Up 23.9%

Rezolute stock opened at $2.02 on Wednesday. The stock has a 50-day moving average price of $8.87 and a 200 day moving average price of $7.16. Rezolute, Inc. has a 52 week low of $1.07 and a 52 week high of $11.46. The stock has a market cap of $187.31 million, a PE ratio of -2.17 and a beta of 0.21.

Rezolute (NASDAQ:RZLT – Get Free Report) last released its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.09. On average, equities analysts predict that Rezolute, Inc. will post -0.93 EPS for the current year.

Analyst Upgrades and Downgrades

RZLT has been the topic of a number of analyst reports. Citizens Jmp lowered shares of Rezolute from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 11th. Wall Street Zen lowered shares of Rezolute from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup cut shares of Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. JMP Securities set a $17.00 target price on Rezolute in a research report on Wednesday, October 29th. Finally, Craig Hallum cut Rezolute from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Rezolute has an average rating of “Hold” and a consensus target price of $9.78.

View Our Latest Analysis on RZLT

Hedge Funds Weigh In On Rezolute

A number of hedge funds have recently made changes to their positions in RZLT. BNP Paribas Financial Markets purchased a new stake in Rezolute during the 2nd quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in shares of Rezolute during the third quarter worth about $61,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Rezolute in the second quarter worth about $30,000. Legal & General Group Plc acquired a new stake in shares of Rezolute in the second quarter valued at about $32,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Rezolute during the 3rd quarter valued at about $94,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Company Profile

(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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