Point72 Europe London LLP Acquires Shares of 146,932 Rezolute, Inc. (NASDAQ:RZLT)

Point72 Europe London LLP purchased a new position in Rezolute, Inc. (NASDAQ:RZLT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 146,932 shares of the company's stock, valued at approximately $720,000. Point72 Europe London LLP owned 0.25% of Rezolute at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RZLT. JPMorgan Chase & Co. purchased a new position in Rezolute in the 3rd quarter valued at approximately $42,000. Alpine Global Management LLC bought a new stake in shares of Rezolute during the 4th quarter valued at $54,000. Charles Schwab Investment Management Inc. lifted its holdings in Rezolute by 65.4% during the 4th 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 in the last quarter. Oxford Asset Management LLP bought a new position in Rezolute in the 4th quarter worth about $154,000. Finally, Balyasny Asset Management L.P. purchased a new position in Rezolute during the 4th quarter valued at about $168,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In other Rezolute news, CEO Nevan C. Elam bought 12,302 shares of Rezolute stock in a transaction that occurred on Thursday, March 27th. The shares were bought at an average price of $2.85 per share, with a total value of $35,060.70. Following the acquisition, the chief executive officer now owns 224,119 shares in the company, valued at approximately $638,739.15. This trade represents a 5.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daron Evans bought 10,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 237,900 shares in the company, valued at $687,531. This trade represents a 4.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 29,060 shares of company stock valued at $83,694 over the last quarter. 18.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RZLT shares. JMP Securities boosted their price objective on shares of Rezolute from $8.00 to $9.00 and gave the company a "market outperform" rating in a research note on Thursday, February 13th. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of Rezolute in a research report on Monday, April 28th. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research report on Monday, February 10th. Wedbush restated an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research report on Wednesday, May 14th. Finally, Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $12.14.

Rezolute Stock Up 4.9%

NASDAQ:RZLT traded up $0.20 during midday trading on Wednesday, hitting $4.15. The company had a trading volume of 1,221,430 shares, compared to its average volume of 635,427. The company has a market capitalization of $250.92 million, a PE ratio of -3.43 and a beta of 1.01. Rezolute, Inc. has a 52-week low of $2.22 and a 52-week high of $6.19. The stock's fifty day moving average price is $3.24 and its 200-day moving average price is $4.28.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). As a group, research analysts forecast 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.