Bank of America Corp DE Has $443,000 Stake in Rezolute, Inc. (NASDAQ:RZLT)

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

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in 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. Ameriprise Financial Inc. bought a new position in Rezolute in the 4th quarter worth approximately $342,000. Barclays PLC bought a new position in Rezolute in the 4th quarter worth approximately $314,000. Nantahala Capital Management LLC boosted its stake in 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 purchasing an additional 280,861 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Rezolute by 222.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 185,768 shares of the company's stock valued at $910,000 after purchasing an additional 128,190 shares in the last quarter. Institutional investors own 82.97% of the company's stock.

Rezolute Price Performance

Shares of RZLT stock traded down $0.20 during trading on Friday, reaching $4.20. The company's stock had a trading volume of 345,000 shares, compared to its average volume of 579,907. The company has a market capitalization of $359.18 million, a price-to-earnings ratio of -3.44 and a beta of 1.04. The stock's 50-day moving average price is $3.67 and its 200 day moving average price is $4.13. 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 posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). On average, sell-side analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of analysts recently weighed in on RZLT shares. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Finally, Wedbush reissued an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research report on Wednesday, May 14th. One equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.83.

Rezolute Company 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.