Bank of America Corp DE Sells 271,794 Shares of Rezolute, Inc. (NASDAQ:RZLT)

Bank of America Corp DE cut its stake in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 75.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,465 shares of the company's stock after selling 271,794 shares during the period. Bank of America Corp DE owned about 0.16% of Rezolute worth $443,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock valued at $112,000 after purchasing an additional 9,000 shares during the period. American Century Companies Inc. grew its position in Rezolute by 62.1% during the fourth quarter. American Century Companies Inc. now owns 64,591 shares of the company's stock worth $316,000 after buying an additional 24,742 shares during the period. Geode Capital Management LLC grew its position in Rezolute by 5.2% during the fourth 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 period. ExodusPoint Capital Management LP acquired a new position in Rezolute during the fourth quarter worth about $277,000. Finally, Barclays PLC purchased a new stake in shares of Rezolute in the fourth quarter valued at about $314,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rezolute

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Monday, April 28th. Finally, Wedbush reaffirmed 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rezolute presently has a consensus rating of "Moderate Buy" and an average price target of $11.83.

Rezolute Stock Down 4.5%

Shares of Rezolute stock traded down $0.20 during trading on Friday, hitting $4.20. The stock had a trading volume of 345,000 shares, compared to its average volume of 594,848. The stock has a 50 day simple moving average of $3.67 and a 200 day simple moving average of $4.14. The company has a market capitalization of $359.18 million, a PE ratio of -3.44 and a beta of 1.04. Rezolute, Inc. has a 1 year low of $2.22 and a 1 year high of $6.19.

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

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.