Rezolute (NASDAQ:RZLT) Sets New 52-Week High - Here's What Happened

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report) shares hit a new 52-week high on Thursday . The company traded as high as $6.21 and last traded at $5.97, with a volume of 1037912 shares. The stock had previously closed at $5.88.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RZLT shares. HC Wainwright reissued a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research note on Monday, April 28th. Wedbush reissued an "outperform" rating and set a $12.00 price target on shares of Rezolute in a report on Wednesday, May 14th. Finally, Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.83.

Rezolute Stock Up 0.6%

The company's 50 day simple moving average is $4.48 and its two-hundred day simple moving average is $4.14. The company has a market capitalization of $514.87 million, a price-to-earnings ratio of -5.16 and a beta of 1.03.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its earnings results 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). Analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current year.

Insiders Place Their Bets

In other Rezolute news, Director Young-Jin Kim acquired 1,230,769 shares of the company's stock in a transaction dated Friday, June 13th. The shares were acquired at an average cost of $3.25 per share, with a total value of $3,999,999.25. Following the acquisition, the director directly owned 8,423,386 shares of the company's stock, valued at approximately $27,376,004.50. The trade was a 17.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have purchased 1,241,345 shares of company stock valued at $4,041,196. 18.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rezolute

A number of institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. increased its holdings in shares of Rezolute by 699.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock valued at $12,377,000 after purchasing an additional 2,210,038 shares in the last quarter. Woodline Partners LP lifted its stake in Rezolute by 2,817.1% in the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock valued at $5,338,000 after buying an additional 1,052,002 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Rezolute by 749.0% during the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock worth $4,379,000 after buying an additional 788,349 shares in the last quarter. Walleye Capital LLC acquired a new stake in Rezolute in the 4th quarter valued at about $2,408,000. Finally, Nantahala Capital Management LLC grew its holdings in Rezolute by 10.9% in the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock valued at $14,004,000 after buying an additional 280,861 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

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.

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