Rezolute, Inc. $RZLT Shares Sold by ADAR1 Capital Management LLC

Key Points

• ADAR1 Capital Management LLC has reduced its stake in Rezolute, Inc. by 17.9%, selling 243,161 shares and owning approximately 1.84% of the company, valued at $3,237,000.
• While the stock is currently rated as a "Buy" by several analysts, Wedbush has issued an "outperform" rating with a target price of $12.00, while Wall Street Zen has lowered its rating to "sell."
• Insider activity shows Director Young-Jin Kim acquired 1,230,769 shares for approximately $4 million, increasing their ownership by 17.11%.

ADAR1 Capital Management LLC decreased its position in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 17.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,116,047 shares of the company's stock after selling 243,161 shares during the quarter. ADAR1 Capital Management LLC owned 1.84% of Rezolute worth $3,237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jeppson Wealth Management LLC purchased a new stake in shares of Rezolute during the 1st quarter worth approximately $35,000. Paloma Partners Management Co purchased a new position in shares of Rezolute during the 1st quarter worth $48,000. Alpine Global Management LLC purchased a new position in shares of Rezolute during the 4th quarter worth $54,000. XTX Topco Ltd purchased a new position in shares of Rezolute during the 1st quarter worth $95,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Rezolute by 48.5% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock worth $97,000 after purchasing an additional 6,470 shares during the period. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Transactions at Rezolute

In related news, Director Young-Jin Kim purchased 1,230,769 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $3.25 per share, for a total transaction of $3,999,999.25. Following the acquisition, the director owned 8,423,386 shares in the company, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders acquired 1,241,345 shares of company stock valued at $4,041,196. 18.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

RZLT has been the topic of a number of recent analyst reports. Wedbush reissued an "outperform" rating and set a $12.00 price target on shares of Rezolute in a research note on Wednesday, May 14th. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $12.50.

Rezolute Stock Up 8.4%

NASDAQ RZLT traded up $0.62 during trading hours on Friday, hitting $8.00. The company had a trading volume of 1,560,305 shares, compared to its average volume of 738,004. Rezolute, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $8.06. The firm's 50 day moving average is $5.96 and its 200 day moving average is $4.46.

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.