Cubist Systematic Strategies LLC Grows Stock Holdings in Rezolute, Inc. $RZLT

Key Points

• Cubist Systematic Strategies LLC increased its stake in Rezolute, Inc. by 335.4% during the first quarter, owning 210,581 shares worth approximately $611,000.
• Insider transactions show Director Young-Jin Kim purchased 1,230,769 shares for nearly $4 million, increasing their ownership by 17.11%.
• Several brokerages have issued ratings for Rezolute, with a consensus rating of "Buy" and a price target of $11.67, despite Wall Street Zen lowering their rating from "hold" to "sell".

Cubist Systematic Strategies LLC increased its stake in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 335.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 210,581 shares of the company's stock after buying an additional 162,216 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.35% of Rezolute worth $611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Man Group plc purchased a new position in shares of Rezolute during the fourth quarter worth about $425,000. XTX Topco Ltd purchased a new position in shares of Rezolute during the first quarter worth about $95,000. Ameriprise Financial Inc. purchased a new position in shares of Rezolute during the fourth quarter worth about $342,000. Dimensional Fund Advisors LP grew its holdings in shares of Rezolute by 222.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 185,768 shares of the company's stock worth $910,000 after buying an additional 128,190 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Rezolute during the fourth quarter worth about $168,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Trading Up 0.2%

RZLT stock opened at $8.10 on Thursday. The firm has a 50 day moving average of $6.24 and a 200-day moving average of $4.56. Rezolute, Inc. has a 12-month low of $2.21 and a 12-month high of $8.34. The company has a market cap of $704.70 million, a price-to-earnings ratio of -7.04 and a beta of 0.03.

Insider Activity

In related news, Director Young-Jin Kim acquired 1,230,769 shares of the business's 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 transaction, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have purchased 1,241,345 shares of company stock worth $4,041,196. 18.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RZLT. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wedbush reaffirmed an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. Based on data from MarketBeat, Rezolute presently has a consensus rating of "Buy" and a consensus price target of $11.67.

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.

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