Altium Capital Management LLC Sells 1,390,051 Shares of 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 lowered its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 82.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 303,949 shares of the company's stock after selling 1,390,051 shares during the period. Rezolute comprises 2.1% of Altium Capital Management LLC's holdings, making the stock its 11th largest holding. Altium Capital Management LLC owned about 0.50% of Rezolute worth $881,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Jeppson Wealth Management LLC bought a new position in shares of Rezolute during the first quarter valued at $35,000. Alpine Global Management LLC acquired a new stake in shares of Rezolute during the fourth quarter worth $54,000. XTX Topco Ltd bought a new stake in Rezolute in the first quarter valued at $95,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Rezolute by 48.5% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock valued at $97,000 after purchasing an additional 6,470 shares in the last quarter. Finally, Oxford Asset Management LLP bought a new stake in Rezolute in the fourth quarter valued at $154,000. Institutional investors own 82.97% of the company's stock.

Insiders Place Their Bets

In related news, Director Young-Jin Kim bought 1,230,769 shares of the company's stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $3,999,999.25. Following the completion of the purchase, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought 1,241,345 shares of company stock valued at $4,041,196 in the last 90 days. 18.39% of the stock is owned by insiders.

Rezolute Stock Up 0.6%

Rezolute stock traded up $0.04 during midday trading on Friday, hitting $6.50. 512,673 shares of the stock were exchanged, compared to its average volume of 868,394. The stock has a market capitalization of $565.50 million, a price-to-earnings ratio of -5.65 and a beta of 0.18. Rezolute, Inc. has a 52-week low of $2.21 and a 52-week high of $6.64. The business's 50-day moving average price is $5.18 and its 200-day moving average price is $4.27.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of Rezolute in a report on Monday, April 28th. Finally, Wedbush reiterated an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $12.20.

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.