JPMorgan Chase & Co. Purchases New Holdings in Rezolute, Inc. (NASDAQ:RZLT)

JPMorgan Chase & Co. purchased a new position in Rezolute, Inc. (NASDAQ:RZLT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,685 shares of the company’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Exome Asset Management LLC boosted its stake in Rezolute by 24.7% in the 3rd quarter. Exome Asset Management LLC now owns 352,056 shares of the company’s stock worth $1,707,000 after purchasing an additional 69,656 shares in the last quarter. Virtu Financial LLC raised its holdings in Rezolute by 58.0% in the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after buying an additional 9,551 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Rezolute by 39.0% in the third quarter. Geode Capital Management LLC now owns 491,601 shares of the company’s stock worth $2,385,000 after buying an additional 137,905 shares in the last quarter. MML Investors Services LLC purchased a new stake in shares of Rezolute during the third quarter valued at approximately $57,000. Finally, XTX Topco Ltd increased its position in shares of Rezolute by 67.4% during the third quarter. XTX Topco Ltd now owns 56,375 shares of the company’s stock valued at $273,000 after acquiring an additional 22,704 shares in the last quarter. Institutional investors own 82.97% of the company’s stock.

Rezolute Stock Up 5.0 %

NASDAQ RZLT opened at $5.50 on Wednesday. The firm has a market capitalization of $318.67 million, a P/E ratio of -4.33 and a beta of 1.10. The company has a 50-day moving average price of $4.88 and a 200-day moving average price of $4.88. Rezolute, Inc. has a 52 week low of $0.92 and a 52 week high of $6.19.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. As a group, equities research analysts anticipate that Rezolute, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Rezolute in a research note on Friday, November 8th. Wedbush reiterated an “outperform” rating and issued a $112.00 price objective on shares of Rezolute in a report on Monday, November 4th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $24.13.

Insider Activity at Rezolute

In related news, CFO Daron Evans acquired 9,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $4.60 per share, with a total value of $41,400.00. Following the completion of the purchase, the chief financial officer now directly owns 140,900 shares of the company’s stock, valued at $648,140. This represents a 6.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.39% of the stock is owned by company insiders.

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.