Federated Hermes Inc. Purchases 3,544,053 Shares of Rezolute, Inc. (NASDAQ:RZLT)

Federated Hermes Inc. increased its stake in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 53.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,154,327 shares of the company's stock after acquiring an additional 3,544,053 shares during the quarter. Federated Hermes Inc. owned approximately 25.63% of Rezolute worth $10,083,000 at the end of the most recent quarter.

Analyst Upgrades and Downgrades

RZLT has been the topic of several analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $7.00 price objective on shares of Rezolute in a research note on Thursday, April 18th. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Thursday, March 7th. Maxim Group assumed coverage on Rezolute in a report on Tuesday, April 9th. They issued a "buy" rating and a $8.00 price objective for the company. Finally, Jonestrading assumed coverage on shares of Rezolute in a research note on Thursday, April 18th. They issued a "buy" rating and a $10.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $8.80.

Rezolute Trading Up 1.0 %

Shares of Rezolute stock traded up $0.03 on Wednesday, hitting $2.89. 343,885 shares of the company traded hands, compared to its average volume of 312,471. The company has a market cap of $115.98 million, a P/E ratio of -2.63 and a beta of 1.29. The firm's 50-day simple moving average is $2.13 and its 200 day simple moving average is $1.36. Rezolute, Inc. has a 12-month low of $0.72 and a 12-month high of $3.69.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.27). Analysts predict that Rezolute, Inc. will post -1.06 earnings per share for the current year.

Insider Activity

In other Rezolute news, CFO Daron Evans acquired 41,900 shares of the firm's stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $1.30 per share, for a total transaction of $54,470.00. Following the purchase, the chief financial officer now owns 70,900 shares in the company, valued at approximately $92,170. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Young-Jin Kim bought 36,503 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was purchased at an average price of $1.91 per share, with a total value of $69,720.73. Following the purchase, the director now owns 115,450 shares of the company's stock, valued at approximately $220,509.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daron Evans purchased 41,900 shares of the firm's stock in a transaction on Friday, February 16th. The stock was bought at an average price of $1.30 per share, with a total value of $54,470.00. Following the acquisition, the chief financial officer now owns 70,900 shares in the company, valued at $92,170. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 179,403 shares of company stock valued at $306,601. 18.20% of the stock is currently owned by company insiders.

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.