683 Capital Management LLC Takes $630,000 Position in Rezolute, Inc. (NASDAQ:RZLT)

683 Capital Management LLC purchased a new stake in Rezolute, Inc. (NASDAQ:RZLT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 128,668 shares of the company's stock, valued at approximately $630,000. 683 Capital Management LLC owned 0.22% of Rezolute at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Nantahala Capital Management LLC lifted its holdings in Rezolute by 10.9% in the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock valued at $14,004,000 after acquiring an additional 280,861 shares during the period. Oxford Asset Management LLP purchased a new position in shares of Rezolute in the 4th quarter valued at about $154,000. Adage Capital Partners GP L.L.C. lifted its stake in shares of Rezolute by 699.7% in the fourth 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. Alpine Global Management LLC purchased a new stake in Rezolute during the fourth quarter worth about $54,000. Finally, Susquehanna International Group LLP grew its position in Rezolute by 749.0% during the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock worth $4,379,000 after buying an additional 788,349 shares during the period. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RZLT has been the subject of a number of research reports. JMP Securities boosted 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. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Monday, April 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $26.43.

Rezolute Trading Down 0.9 %

Shares of Rezolute stock traded down $0.04 during trading hours on Wednesday, reaching $3.73. 390,339 shares of the company's stock were exchanged, compared to its average volume of 608,069. The company has a fifty day moving average of $3.28 and a 200-day moving average of $4.40. Rezolute, Inc. has a 52-week low of $2.22 and a 52-week high of $6.19. The firm has a market capitalization of $225.49 million, a price-to-earnings ratio of -3.07 and a beta of 1.01.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, equities research analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In other news, Director Wladimir Hogenhuis bought 10,000 shares of Rezolute stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 77,267 shares in the company, valued at approximately $363,154.90. This trade represents a 14.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nevan C. Elam bought 12,302 shares of the stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $2.85 per share, with a total value of $35,060.70. Following the completion of the purchase, the chief executive officer now directly owns 224,119 shares of the company's stock, valued at approximately $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 39,060 shares of company stock valued at $130,694 over the last three months. 18.39% of the stock is owned by company insiders.

Rezolute 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.