Nantahala Capital Management LLC Has $14 Million Stock Position in Rezolute, Inc. (NASDAQ:RZLT)

Nantahala Capital Management LLC raised its position in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,857,982 shares of the company's stock after acquiring an additional 280,861 shares during the period. Nantahala Capital Management LLC owned approximately 4.93% of Rezolute worth $14,004,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company's stock valued at $609,000 after purchasing an additional 13,000 shares during the period. Geode Capital Management LLC boosted its position in shares of Rezolute by 39.0% in the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company's stock valued at $2,385,000 after acquiring an additional 137,905 shares during the period. Virtu Financial LLC grew its stake in shares of Rezolute by 58.0% in the third quarter. Virtu Financial LLC now owns 26,026 shares of the company's stock valued at $126,000 after acquiring an additional 9,551 shares in the last quarter. Exome Asset Management LLC increased its position in Rezolute by 24.7% during the third quarter. Exome Asset Management LLC now owns 352,056 shares of the company's stock worth $1,707,000 after acquiring an additional 69,656 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in Rezolute in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 82.97% of the company's stock.

Insider Buying and Selling

In related news, CFO Daron Evans purchased 10,000 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was bought 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 in the company, valued at approximately $687,531. This represents a 4.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nevan C. Elam bought 12,302 shares of Rezolute stock in a transaction that occurred on Thursday, March 27th. The stock was 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 directly 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. Insiders have acquired a total of 39,060 shares of company stock valued at $130,694 over the last 90 days. 18.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RZLT has been the topic of a number of analyst reports. JMP Securities increased their target price on shares of Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a research report on Thursday, February 13th. Guggenheim reissued a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Craig Hallum raised Rezolute to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of Rezolute in a research report on Monday, April 28th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rezolute currently has an average rating of "Buy" and a consensus target price of $26.43.

Rezolute Stock Up 1.0 %

Shares of RZLT traded up $0.04 during midday trading on Friday, hitting $4.00. The company's stock had a trading volume of 713,741 shares, compared to its average volume of 602,281. Rezolute, Inc. has a one year low of $2.22 and a one year high of $6.19. The stock has a market capitalization of $242.14 million, a price-to-earnings ratio of -3.28 and a beta of 0.97. The company's fifty day simple moving average is $3.30 and its two-hundred day simple moving average is $4.42.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.11. On average, research analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current year.

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.