Altium Capital Management LLC Trims Stock Holdings in Rezolute, Inc. (NASDAQ:RZLT)

Key Points

• Altium Capital Management LLC reduced its stake in Rezolute, Inc. by 82.1%, holding 303,949 shares worth approximately $881,000, making it the firm's 11th largest position.
• Director Young-Jin Kim significantly increased their stake by purchasing 1,230,769 shares at an average price of $3.25 per share, now holding a total of 8,423,386 shares.
• Rezolute recently reported a quarterly EPS of ($0.27), missing estimates, and analysts predict an average price target of $12.20 for the stock, currently rated as a “Moderate Buy.”

Altium Capital Management LLC reduced its holdings in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 82.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,949 shares of the company's stock after selling 1,390,051 shares during the quarter. Rezolute makes up 2.1% of Altium Capital Management LLC's portfolio, making the stock its 11th biggest holding. Altium Capital Management LLC owned approximately 0.50% of Rezolute worth $881,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC acquired a new position in Rezolute in the first quarter valued at $35,000. Alpine Global Management LLC acquired a new stake in Rezolute during the fourth quarter worth about $54,000. XTX Topco Ltd acquired a new stake in Rezolute during the first quarter worth about $95,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Rezolute by 48.5% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock worth $97,000 after acquiring an additional 6,470 shares during the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in Rezolute during the fourth quarter worth about $154,000. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RZLT shares. Wedbush restated 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 target on shares of Rezolute in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Rezolute currently has a consensus rating of "Moderate Buy" and an average target price of $12.20.

Insider Buying and Selling

In other Rezolute news, Director Young-Jin Kim purchased 1,230,769 shares of Rezolute stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the acquisition, the director owned 8,423,386 shares of the company's stock, valued at approximately $27,376,004.50. This trade represents a 17.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 1,241,345 shares of company stock valued at $4,041,196 over the last ninety days. Corporate insiders own 18.39% of the company's stock.

Rezolute Stock Performance

Shares of RZLT stock traded up $0.04 during trading hours on Friday, reaching $6.50. The company had a trading volume of 512,673 shares, compared to its average volume of 868,394. Rezolute, Inc. has a twelve month low of $2.21 and a twelve month high of $6.64. The company has a market capitalization of $565.50 million, a P/E ratio of -5.65 and a beta of 0.18. The stock's fifty day simple moving average is $5.18 and its 200 day simple moving average is $4.27.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). As a group, equities analysts expect that Rezolute, Inc. will post -0.93 earnings per share for the current year.

About Rezolute

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.