Adage Capital Partners GP L.L.C. increased its stake in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 699.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,525,883 shares of the company's stock after acquiring an additional 2,210,038 shares during the quarter. Adage Capital Partners GP L.L.C. owned 4.36% of Rezolute worth $12,377,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Rezolute during the third quarter valued at about $42,000. Alpine Global Management LLC bought a new position in Rezolute during the fourth quarter worth about $54,000. Charles Schwab Investment Management Inc. grew its stake in Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock valued at $112,000 after buying an additional 9,000 shares in the last quarter. Virtu Financial LLC lifted its holdings in Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company's stock worth $126,000 after purchasing an additional 9,551 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in shares of Rezolute in the fourth quarter valued at approximately $277,000. Institutional investors own 82.97% of the company's stock.
Rezolute Stock Performance
Shares of Rezolute stock traded up $0.20 during midday trading on Thursday, hitting $3.96. The company had a trading volume of 888,615 shares, compared to its average volume of 597,968. Rezolute, Inc. has a 52-week low of $2.22 and a 52-week high of $6.19. The company has a 50 day moving average of $3.31 and a 200 day moving average of $4.43. The stock has a market capitalization of $239.72 million, a P/E ratio of -3.25 and a beta of 0.97.
Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. Equities research analysts forecast that Rezolute, Inc. will post -0.93 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of Rezolute in a research report on Monday. JMP Securities lifted 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. Craig Hallum upgraded shares of Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, Guggenheim reissued a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rezolute presently has an average rating of "Buy" and a consensus price target of $26.43.
Read Our Latest Research Report on RZLT
Insider Buying and Selling
In other Rezolute news, Director Wladimir Hogenhuis acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were bought at an average price of $4.70 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director now owns 77,267 shares in the company, valued at $363,154.90. This represents a 14.87 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nevan C. Elam acquired 12,302 shares of Rezolute stock in a transaction dated Thursday, March 27th. The stock was bought 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 in the company, valued at $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 39,060 shares of company stock worth $130,694. 18.39% of the stock is owned by insiders.
Rezolute Profile
(
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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