Point72 Europe London LLP Purchases New Position in Rezolute, Inc. (NASDAQ:RZLT)

Point72 Europe London LLP purchased a new stake in shares of Rezolute, Inc. (NASDAQ:RZLT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 146,932 shares of the company’s stock, valued at approximately $720,000. Point72 Europe London LLP owned about 0.25% of Rezolute at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in Rezolute during the third quarter worth $42,000. Alpine Global Management LLC acquired a new position in Rezolute during the fourth quarter worth $54,000. Charles Schwab Investment Management Inc. raised its holdings in Rezolute by 65.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock worth $112,000 after buying an additional 9,000 shares during the last quarter. Oxford Asset Management LLP acquired a new position in Rezolute during the fourth quarter worth $154,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Rezolute during the fourth quarter valued at about $168,000. 82.97% of the stock is owned by institutional investors.

Insider Activity at Rezolute

In other news, CFO Daron Evans acquired 10,000 shares of Rezolute stock in a transaction that occurred on Wednesday, March 26th. The stock was bought at an average price of $2.89 per share, with a total value of $28,900.00. Following the completion of the purchase, the chief financial officer now owns 237,900 shares in the company, valued at approximately $687,531. The trade was a 4.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nevan C. Elam acquired 12,302 shares of Rezolute stock in a transaction that occurred on Thursday, March 27th. The shares were purchased at an average cost of $2.85 per share, with a total value of $35,060.70. Following the purchase, the chief executive officer now owns 224,119 shares of the company’s stock, valued at $638,739.15. This represents a 5.81% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 39,060 shares of company stock valued at $130,694. Corporate insiders own 18.39% of the company’s stock.

Analyst Upgrades and Downgrades

RZLT has been the topic of a number of recent analyst reports. Guggenheim reissued a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Rezolute in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Rezolute in a report on Monday, April 28th. JMP Securities raised their price objective on shares of Rezolute from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, February 13th. Finally, Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rezolute presently has a consensus rating of “Buy” and a consensus target price of $12.14.

Rezolute Stock Up 2.0%

RZLT opened at $3.56 on Friday. The company has a market capitalization of $215.50 million, a price-to-earnings ratio of -2.92 and a beta of 1.01. The firm has a 50-day moving average price of $3.24 and a 200-day moving average price of $4.32. Rezolute, Inc. has a twelve month low of $2.22 and a twelve month high of $6.19.

Rezolute (NASDAQ:RZLT) last posted its earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). On average, sell-side analysts expect that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Rezolute 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.