Ameriprise Financial Inc. Invests $342,000 in Rezolute, Inc. (NASDAQ:RZLT)

Ameriprise Financial Inc. purchased a new position in Rezolute, Inc. (NASDAQ:RZLT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 69,724 shares of the company's stock, valued at approximately $342,000. Ameriprise Financial Inc. owned approximately 0.12% of Rezolute as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RZLT. Geode Capital Management LLC increased its holdings in shares of Rezolute by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company's stock worth $2,535,000 after buying an additional 25,413 shares during the last quarter. Barclays PLC bought a new stake in shares of Rezolute in the 4th quarter worth about $314,000. Nantahala Capital Management LLC increased its holdings in shares of Rezolute by 10.9% in the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after buying an additional 280,861 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Rezolute by 222.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 185,768 shares of the company's stock worth $910,000 after buying an additional 128,190 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock worth $112,000 after buying an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling at Rezolute

In other Rezolute news, CFO Daron Evans purchased 10,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was purchased at an average price of $2.89 per share, with a total value of $28,900.00. Following the transaction, the chief financial officer now owns 237,900 shares of the company's stock, valued at approximately $687,531. This trade represents a 4.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nevan C. Elam purchased 12,302 shares of the stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $2.85 per share, with a total value of $35,060.70. Following the transaction, the chief executive officer now directly owns 224,119 shares in the company, valued at approximately $638,739.15. This trade represents a 5.81% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 29,060 shares of company stock valued at $83,694 in the last three months. Company insiders own 18.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JMP Securities boosted their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a report on Thursday, February 13th. Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of Rezolute in a report on Monday, April 28th. Guggenheim reiterated a "buy" rating on shares of Rezolute in a report on Monday, February 10th. Finally, Wedbush reiterated an "outperform" rating and set a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Rezolute has an average rating of "Moderate Buy" and an average price target of $11.83.

Rezolute Stock Performance

Rezolute stock traded down $0.12 during trading hours on Monday, hitting $4.31. The company had a trading volume of 644,107 shares, compared to its average volume of 591,733. The firm has a market cap of $368.59 million, a P/E ratio of -3.53 and a beta of 1.04. Rezolute, Inc. has a 1 year low of $2.22 and a 1 year high of $6.19. The company has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $4.14.

Rezolute (NASDAQ:RZLT - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). As a group, equities research analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current year.

About Rezolute

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.