Federated Hermes Inc. Purchases 3,544,053 Shares of Rezolute, Inc. (NASDAQ:RZLT)

Federated Hermes Inc. raised its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT) by 53.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,154,327 shares of the company’s stock after purchasing an additional 3,544,053 shares during the period. Federated Hermes Inc. owned 25.63% of Rezolute worth $10,083,000 as of its most recent filing with the Securities and Exchange Commission.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jonestrading initiated coverage on shares of Rezolute in a report on Thursday, April 18th. They issued a “buy” rating and a $10.00 price objective on the stock. Maxim Group assumed coverage on shares of Rezolute in a research report on Tuesday, April 9th. They set a “buy” rating and a $8.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $7.00 price target on shares of Rezolute in a research report on Thursday, April 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Rezolute in a research note on Thursday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Rezolute presently has a consensus rating of “Buy” and an average target price of $8.80.

Insider Buying and Selling

In related news, CFO Daron Evans purchased 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $1.69 per share, with a total value of $33,800.00. Following the completion of the purchase, the chief financial officer now owns 20,000 shares in the company, valued at approximately $33,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Daron Evans bought 20,000 shares of the stock in a transaction on Friday, March 15th. The stock was purchased at an average price of $1.69 per share, for a total transaction of $33,800.00. Following the acquisition, the chief financial officer now owns 20,000 shares in the company, valued at $33,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Young-Jin Kim purchased 36,503 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was purchased at an average price of $1.91 per share, for a total transaction of $69,720.73. Following the completion of the acquisition, the director now owns 115,450 shares of the company’s stock, valued at $220,509.50. The disclosure for this purchase can be found here. In the last three months, insiders acquired 179,403 shares of company stock valued at $306,601. 18.20% of the stock is owned by corporate insiders.

Rezolute Trading Down 19.2 %

Shares of Rezolute stock opened at $2.86 on Wednesday. The stock’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $1.36. The company has a market capitalization of $114.77 million, a PE ratio of -2.60 and a beta of 1.29. Rezolute, Inc. has a 12 month low of $0.72 and a 12 month high of $3.69.

Rezolute (NASDAQ:RZLT) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.27). Analysts predict that Rezolute, Inc. will post -1.06 EPS 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.