Ameriprise Financial Inc. Takes Position 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 its most recent disclosure with the SEC. The fund purchased 69,724 shares of the company's stock, valued at approximately $342,000. Ameriprise Financial Inc. owned 0.12% of Rezolute as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in RZLT. Adage Capital Partners GP L.L.C. grew its position in Rezolute by 699.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock worth $12,377,000 after buying an additional 2,210,038 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Rezolute by 749.0% in the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock worth $4,379,000 after acquiring an additional 788,349 shares during the period. Walleye Capital LLC bought a new stake in shares of Rezolute in the 4th quarter worth approximately $2,408,000. Nantahala Capital Management LLC grew its holdings in shares of Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after purchasing an additional 280,861 shares in the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of Rezolute during the fourth quarter valued at approximately $630,000. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Rezolute

In other Rezolute news, CEO Nevan C. Elam bought 12,302 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were bought at an average price of $2.85 per share, for a total transaction of $35,060.70. Following the completion of the acquisition, the chief executive officer now owns 224,119 shares of the company's stock, valued at approximately $638,739.15. This trade represents a 5.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daron Evans bought 10,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was acquired at an average price of $2.89 per share, with a total value of $28,900.00. Following the completion of the purchase, the chief financial officer now owns 237,900 shares of the company's stock, valued at $687,531. This represents a 4.39% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 29,060 shares of company stock valued at $83,694. Corporate insiders own 18.39% of the company's stock.

Rezolute Stock Performance

Shares of NASDAQ RZLT traded up $0.12 during midday trading on Friday, reaching $4.43. 886,527 shares of the company traded hands, compared to its average volume of 591,521. Rezolute, Inc. has a 12 month low of $2.22 and a 12 month high of $6.19. The stock's 50-day simple moving average is $3.50 and its 200-day simple moving average is $4.15. The firm has a market cap of $378.85 million, a PE ratio of -3.63 and a beta of 1.01.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results 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). On average, equities research analysts expect that Rezolute, Inc. will post -0.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RZLT shares. Guggenheim reaffirmed a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Wedbush reiterated an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research report on Wednesday, May 14th. JMP Securities upped their target price on shares of Rezolute from $8.00 to $9.00 and gave the company a "market outperform" rating in a research note on Thursday, February 13th. Finally, Wall Street Zen cut shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Rezolute has a consensus rating of "Moderate Buy" and an average price target of $11.83.

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.