Affinity Asset Advisors LLC Acquires 125,000 Shares of Rezolute, Inc. $RZLT

Key Points

• Affinity Asset Advisors LLC increased its stake in Rezolute, Inc. by 7.9%, owning 1.7 million shares valued at approximately $4.93 million after purchasing an additional 125,000 shares.
• Institutional investors now own 82.97% of Rezolute's shares, with several firms like American Century and Pale Fire Capital also boosting their stakes in the company during the 1st quarter.
• Analysts have set a target price for Rezolute shares, with HC Wainwright suggesting $14.00 and Wedbush at $12.00, while the average rating stands at "Buy" with an average target of $12.20.

Affinity Asset Advisors LLC lifted its stake in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 7.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,700,000 shares of the company's stock after purchasing an additional 125,000 shares during the period. Affinity Asset Advisors LLC owned 2.81% of Rezolute worth $4,930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Adage Capital Partners GP L.L.C. raised its stake in Rezolute by 699.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,525,883 shares of the company's stock worth $12,377,000 after buying an additional 2,210,038 shares during the period. Woodline Partners LP raised its stake in Rezolute by 2,817.1% during the 4th quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock worth $5,338,000 after buying an additional 1,052,002 shares during the period. Susquehanna International Group LLP raised its stake in Rezolute by 749.0% during the 4th quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock worth $4,379,000 after buying an additional 788,349 shares during the period. Nantahala Capital Management LLC raised its stake in Rezolute by 10.9% during the 4th quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after buying an additional 280,861 shares during the period. Finally, Integral Health Asset Management LLC raised its stake in Rezolute by 100.0% during the 4th quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock worth $2,450,000 after buying an additional 250,000 shares during the period. 82.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Young-Jin Kim bought 1,230,769 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the transaction, the director owned 8,423,386 shares in the company, valued at $27,376,004.50. The trade was a 17.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 1,241,345 shares of company stock valued at $4,041,196 over the last 90 days. 18.39% of the stock is currently owned by insiders.

Rezolute Price Performance

Shares of NASDAQ:RZLT traded down $0.10 during midday trading on Friday, reaching $7.12. The company had a trading volume of 1,260,223 shares, compared to its average volume of 711,805. The business's 50 day moving average price is $5.66 and its 200 day moving average price is $4.38. Rezolute, Inc. has a 1-year low of $2.21 and a 1-year high of $7.46.

Analyst Ratings Changes

Several analysts recently commented on the company. Wedbush reaffirmed an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research note on Wednesday, May 14th. Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $12.50.

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.