Key Points
- CEO Nevan Elam purchased 32,000 shares on December 15 at an average price of $1.59 (total $50,880), boosting his stake to 641,119 shares — a 5.25% increase in ownership.
- Shares are down sharply (article cites a 9.4% drop, opening at $1.63) with a market cap of $151.2M and a consensus analyst rating of Hold and $9.78 average price target despite wide analyst disagreement.
- Rezolute is a clinical-stage biotech developing RZ358 (Phase 2b for congenital hyperinsulinism) and has high institutional ownership (~82.97%), led by large stakes such as Federated Hermes (≈14.03M shares).
Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) insider Sunil Ratilal Karnawat bought 12,100 shares of the company's stock in a transaction dated Monday, December 15th. The stock was acquired at an average price of $1.62 per share, for a total transaction of $19,602.00. Following the acquisition, the insider directly owned 71,542 shares in the company, valued at $115,898.04. This trade represents a 20.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Rezolute Stock Performance
RZLT stock opened at $1.63 on Tuesday. The stock has a market cap of $151.15 million, a P/E 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, Inc. has a 52 week low of $1.07 and a 52 week high of $11.46.
Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. Sell-side analysts predict that Rezolute, Inc. will post -0.93 EPS for the current year.
Hedge Funds Weigh In On Rezolute
Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in Rezolute during the second quarter valued at about $25,000. Ameritas Investment Partners Inc. acquired a new position in shares of Rezolute during the 2nd quarter valued at about $30,000. Legal & General Group Plc acquired a new position in shares of Rezolute during the 2nd quarter valued at about $32,000. Raymond James Financial Inc. bought a new position in shares of Rezolute in the 2nd quarter valued at approximately $46,000. Finally, Paloma Partners Management Co bought a new position in shares of Rezolute in the 1st quarter valued at approximately $48,000. 82.97% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on RZLT. Wedbush downgraded shares of Rezolute from an "outperform" rating to a "neutral" rating in a research note on Thursday, December 11th. Citizens Jmp downgraded Rezolute from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 11th. Craig Hallum lowered Rezolute from a "buy" rating to a "hold" rating and set a $2.00 target price on the stock. in a research report on Thursday. Maxim Group set a $4.00 price target on Rezolute in a research note on Friday. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $20.00 price target on shares of Rezolute in a research note on Friday, December 5th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $9.78.
Check Out Our Latest Stock Analysis on Rezolute
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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