Rezolute (NASDAQ:RZLT) Trading 6.5% Higher - Here's Why

Key Points

• Rezolute's stock price increased by 6.5% on Friday, closing at $6.25 after trading as high as $6.10, although the trading volume was down significantly by 70% from the average.
• Analyst ratings have been mixed, with Wall Street Zen downgrading the stock to a "sell" rating, while other firms like Wedbush and HC Wainwright have maintained higher price targets of $12 and $14, respectively.
• Recently, insider buying activity was notable, as Director Young-Jin Kim purchased over 1.2 million shares, increasing their ownership by 17%.
• Institutional investors control approximately 82.97% of Rezolute's stock, indicating significant institutional interest in the company.

Rezolute, Inc. (NASDAQ:RZLT - Get Free Report)'s stock price traded up 6.5% on Friday . The stock traded as high as $6.10 and last traded at $6.25. 283,075 shares changed hands during trading, a decline of 70% from the average session volume of 956,428 shares. The stock had previously closed at $5.87.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wall Street Zen cut Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.83.

Rezolute Stock Performance

The business has a 50 day moving average of $4.53 and a two-hundred day moving average of $4.14. The firm has a market capitalization of $538.97 million, a price-to-earnings ratio of -5.41 and a beta of 1.03.

Rezolute (NASDAQ:RZLT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). On average, equities analysts predict that Rezolute, Inc. will post -0.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Young-Jin Kim acquired 1,230,769 shares of Rezolute stock in a transaction on Friday, June 13th. The stock was acquired at an average cost of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the acquisition, the director owned 8,423,386 shares in the company, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 1,241,345 shares of company stock worth $4,041,196 over the last three months. 18.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rezolute

Institutional investors and hedge funds have recently made changes to their positions in the business. Man Group plc bought a new stake in shares of Rezolute during the 4th quarter valued at about $425,000. Geode Capital Management LLC raised its position in Rezolute by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 517,014 shares of the company's stock valued at $2,535,000 after purchasing an additional 25,413 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Rezolute during the fourth quarter valued at about $342,000. Barclays PLC purchased a new stake in Rezolute during the fourth quarter valued at about $314,000. Finally, Nantahala Capital Management LLC raised its position in Rezolute by 10.9% during the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock valued at $14,004,000 after purchasing an additional 280,861 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

About Rezolute

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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