Maxim Group initiated coverage on shares of Rezolute (NASDAQ:RZLT – Free Report) in a report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.
Separately, HC Wainwright reissued a buy rating and set a $14.00 price objective on shares of Rezolute in a report on Thursday, March 7th.
Read Our Latest Research Report on Rezolute
Rezolute Stock Down 1.2 %
Rezolute (NASDAQ:RZLT – Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.27). Equities analysts expect that Rezolute will post -1.06 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Daron Evans purchased 20,000 shares of Rezolute stock in a transaction dated Friday, March 15th. The stock was purchased at an average cost of $1.69 per share, for a total transaction of $33,800.00. Following the transaction, the chief financial officer now directly owns 20,000 shares of the company’s stock, valued at $33,800. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Young-Jin Kim bought 36,503 shares of Rezolute stock in a transaction that occurred on Thursday, March 7th. The shares were acquired at an average price of $1.91 per share, with a total value of $69,720.73. Following the completion of the purchase, the director now directly owns 115,450 shares in the company, valued at $220,509.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daron Evans purchased 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $1.69 per share, with a total value of $33,800.00. Following the purchase, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $33,800. The disclosure for this purchase can be found here. Insiders have bought 179,403 shares of company stock worth $306,601 in the last three months. 18.20% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Rezolute
Large investors have recently modified their holdings of the company. Millennium Management LLC purchased a new stake in Rezolute during the fourth quarter valued at about $32,000. FMR LLC purchased a new position in Rezolute in the 1st quarter worth approximately $39,000. Renaissance Technologies LLC bought a new stake in Rezolute in the second quarter valued at approximately $58,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Rezolute during the fourth quarter valued at approximately $67,000. Finally, State Street Corp bought a new position in shares of Rezolute in the first quarter worth approximately $69,000. 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.
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