ADAR1 Capital Management LLC Has $6.66 Million Stake in Rezolute, Inc. (NASDAQ:RZLT)

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

A number of other institutional investors have also recently bought and sold shares of the business. ExodusPoint Capital Management LP bought a new position in Rezolute in the 4th quarter valued at approximately $277,000. Geode Capital Management LLC increased its stake in shares of Rezolute by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 517,014 shares of the company’s stock valued at $2,535,000 after acquiring an additional 25,413 shares in the last quarter. American Century Companies Inc. increased its position in Rezolute by 62.1% in the 4th quarter. American Century Companies Inc. now owns 64,591 shares of the company’s stock valued at $316,000 after buying an additional 24,742 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Rezolute by 65.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,757 shares of the company’s stock valued at $112,000 after buying an additional 9,000 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Rezolute in the third quarter worth approximately $42,000. Institutional investors own 82.97% of the company’s stock.

Rezolute Trading Down 7.7 %

RZLT opened at $2.53 on Monday. The firm’s 50 day simple moving average is $4.05 and its two-hundred day simple moving average is $4.67. Rezolute, Inc. has a 1-year low of $2.31 and a 1-year high of $6.19. The company has a market capitalization of $153.15 million, a PE ratio of -2.07 and a beta of 0.97.

Rezolute (NASDAQ:RZLT) last issued its earnings results on Wednesday, February 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.11. Equities analysts forecast that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RZLT has been the subject of several recent analyst reports. JMP Securities upped 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. Craig Hallum raised Rezolute to a “strong-buy” rating in a research note on Tuesday, February 4th. Guggenheim restated a “buy” rating on shares of Rezolute in a research report on Monday, February 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Thursday, February 13th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $24.38.

Insiders Place Their Bets

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

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.