Adage Capital Partners GP L.L.C. Grows Holdings in Rezolute, Inc. (NASDAQ:RZLT)

Adage Capital Partners GP L.L.C. increased its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT) by 699.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,525,883 shares of the company’s stock after purchasing an additional 2,210,038 shares during the period. Adage Capital Partners GP L.L.C. owned 4.36% of Rezolute worth $12,377,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RZLT. JPMorgan Chase & Co. acquired a new stake in shares of Rezolute during the third quarter worth about $42,000. Alpine Global Management LLC purchased a new stake in Rezolute during the 4th quarter valued at approximately $54,000. Charles Schwab Investment Management Inc. lifted its position 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 acquiring an additional 9,000 shares during the period. Virtu Financial LLC lifted its position in Rezolute by 58.0% during the 3rd quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after acquiring an additional 9,551 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Rezolute in the 4th quarter valued at approximately $277,000. 82.97% of the stock is owned by hedge funds and other institutional investors.

Rezolute Stock Down 2.8 %

NASDAQ:RZLT opened at $3.85 on Monday. The firm’s fifty day simple moving average is $3.36 and its 200-day simple moving average is $4.44. The stock has a market cap of $233.06 million, a PE ratio of -3.16 and a beta of 0.97. Rezolute, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.19.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RZLT shares. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research note on Thursday, February 13th. JMP Securities upped their price objective 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. Craig Hallum raised shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Guggenheim reissued a “buy” rating on shares of Rezolute in a report on Monday, February 10th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Rezolute presently has an average rating of “Buy” and a consensus price target of $26.43.

Insider Buying and Selling

In other news, Director Wladimir Hogenhuis bought 10,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $4.70 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director now owns 77,267 shares in the company, valued at $363,154.90. This trade represents a 14.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nevan C. Elam purchased 12,302 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was purchased at an average price of $2.85 per share, with a total value of $35,060.70. Following the transaction, the chief executive officer now owns 224,119 shares of the company’s stock, valued at approximately $638,739.15. This represents a 5.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 39,060 shares of company stock worth $130,694 in the last quarter. Company insiders own 18.39% 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.