Geode Capital Management LLC Buys 137,905 Shares of Rezolute, Inc. (NASDAQ:RZLT)

Geode Capital Management LLC raised its stake in Rezolute, Inc. (NASDAQ:RZLT) by 39.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,601 shares of the company’s stock after acquiring an additional 137,905 shares during the period. Geode Capital Management LLC owned about 0.85% of Rezolute worth $2,385,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RZLT. MML Investors Services LLC acquired a new stake in shares of Rezolute during the 3rd quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rezolute during the third quarter worth about $65,000. XTX Topco Ltd increased its holdings in shares of Rezolute by 205.8% during the second quarter. XTX Topco Ltd now owns 33,671 shares of the company’s stock worth $145,000 after buying an additional 22,660 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Rezolute in the third quarter valued at approximately $239,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Rezolute by 366.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,237 shares of the company’s stock worth $233,000 after acquiring an additional 42,597 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Insider Transactions at Rezolute

In related news, CFO Daron Evans purchased 10,000 shares of Rezolute stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the transaction, the chief financial officer now directly owns 150,900 shares of the company’s stock, valued at approximately $647,361. This trade represents a 7.10 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.39% of the stock is owned by corporate insiders.

Rezolute Trading Up 4.2 %

Shares of NASDAQ:RZLT opened at $5.43 on Wednesday. Rezolute, Inc. has a 1-year low of $0.90 and a 1-year high of $6.19. The stock has a market capitalization of $314.63 million, a P/E ratio of -4.28 and a beta of 1.08. The business has a 50-day moving average price of $5.05 and a two-hundred day moving average price of $4.80.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RZLT. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Rezolute in a report on Friday, September 20th. Wedbush restated an “outperform” rating and issued a $112.00 target price on shares of Rezolute in a research note on Monday, November 4th. HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Friday, November 8th. Finally, BTIG Research raised their price objective on shares of Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $24.13.

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.