Woodline Partners LP Purchases 1,052,002 Shares of Rezolute, Inc. (NASDAQ:RZLT)

Woodline Partners LP raised its stake in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 2,817.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,089,345 shares of the company's stock after buying an additional 1,052,002 shares during the quarter. Woodline Partners LP owned about 1.88% of Rezolute worth $5,338,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in Rezolute during the third quarter valued at $42,000. Alpine Global Management LLC purchased a new position in Rezolute during the fourth quarter valued at $54,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Rezolute by 48.5% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock worth $97,000 after purchasing an additional 6,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company's stock worth $112,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of Rezolute in the fourth quarter worth $154,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research note on Tuesday, February 4th. Wedbush restated an "outperform" rating and issued a $12.00 price target on shares of Rezolute in a research note on Wednesday, May 14th. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research note on Monday, April 28th. Guggenheim restated a "buy" rating on shares of Rezolute in a research note on Monday, February 10th. Finally, JMP Securities boosted 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. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.14.

Rezolute Price Performance

Rezolute stock traded down $0.06 during mid-day trading on Tuesday, reaching $3.83. 1,170,009 shares of the stock traded hands, compared to its average volume of 590,082. The stock has a market capitalization of $231.85 million, a PE ratio of -3.14 and a beta of 1.01. Rezolute, Inc. has a 12-month low of $2.22 and a 12-month high of $6.19. The business's 50-day moving average is $3.28 and its 200-day moving average is $4.22.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted 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). Equities analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.