Rezolute, Inc. (NASDAQ:RZLT) Director Young-Jin Kim Buys 1,230,769 Shares

Rezolute, Inc. (NASDAQ:RZLT) Director Young-Jin Kim acquired 1,230,769 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was purchased at an average cost 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 in the company, valued at approximately $27,376,004.50. This represents a 17.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Rezolute Stock Performance

Shares of NASDAQ:RZLT opened at $4.24 on Wednesday. Rezolute, Inc. has a one year low of $2.22 and a one year high of $6.19. The stock has a fifty day moving average of $3.88 and a 200-day moving average of $4.09. The company has a market capitalization of $362.60 million, a PE ratio of -3.69 and a beta of 1.04.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). As a group, research analysts forecast that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Rezolute

A number of institutional investors and hedge funds have recently modified their holdings of RZLT. Adage Capital Partners GP L.L.C. raised its stake in Rezolute by 699.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company’s stock valued at $12,377,000 after purchasing an additional 2,210,038 shares during the period. Woodline Partners LP raised its stake in Rezolute by 2,817.1% during the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company’s stock valued at $5,338,000 after purchasing an additional 1,052,002 shares during the period. Susquehanna International Group LLP raised its stake in Rezolute by 749.0% during the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company’s stock valued at $4,379,000 after purchasing an additional 788,349 shares during the period. Walleye Capital LLC acquired a new stake in Rezolute during the 4th quarter valued at $2,408,000. Finally, Nantahala Capital Management LLC raised its stake in Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company’s stock valued at $14,004,000 after purchasing an additional 280,861 shares during the period. Institutional investors and hedge funds own 82.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Finally, Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Rezolute in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.83.

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.