Rezolute, Inc. (NASDAQ:RZLT) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC trimmed its position in Rezolute, Inc. (NASDAQ:RZLT) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,359,208 shares of the company’s stock after selling 212,497 shares during the quarter. Rezolute comprises 1.3% of ADAR1 Capital Management LLC’s investment portfolio, making the stock its 15th biggest position. ADAR1 Capital Management LLC owned 2.35% of Rezolute worth $6,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new stake in Rezolute in the third quarter valued at approximately $42,000. MML Investors Services LLC purchased a new position in Rezolute during the 3rd quarter valued at about $57,000. Charles Schwab Investment Management Inc. grew its position in Rezolute by 65.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after acquiring an additional 9,000 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Rezolute by 58.0% during the third quarter. Virtu Financial LLC now owns 26,026 shares of the company’s stock worth $126,000 after purchasing an additional 9,551 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Rezolute in the third quarter valued at approximately $239,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Performance

RZLT opened at $2.53 on Monday. The company has a market capitalization of $153.15 million, a P/E ratio of -2.07 and a beta of 0.97. Rezolute, Inc. has a 1-year low of $2.31 and a 1-year high of $6.19. The company has a 50-day moving average of $4.05 and a 200-day moving average of $4.67.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data 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. As a group, sell-side analysts expect that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RZLT has been the subject of a number of recent research reports. JMP Securities lifted their target price on Rezolute from $8.00 to $9.00 and gave the company a “market outperform” rating in a report on Thursday, February 13th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research note on Thursday, February 13th. Craig Hallum upgraded shares of Rezolute to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $24.38.

Insiders Place Their Bets

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