Cubist Systematic Strategies LLC Raises 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 lifted its position in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 335.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 210,581 shares of the company's stock after purchasing 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Rezolute by 222.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 185,768 shares of the company's stock worth $910,000 after acquiring an additional 128,190 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Rezolute during the fourth quarter valued at $342,000. Balyasny Asset Management L.P. bought a new stake in shares of Rezolute in the 4th quarter worth about $168,000. Jacobs Levy Equity Management Inc. raised its position in shares of Rezolute by 41.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 69,989 shares of the company's stock valued at $343,000 after buying an additional 20,667 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Rezolute in the 4th quarter valued at about $372,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Trading Up 3.3%

Shares of RZLT traded up $0.25 during midday trading on Tuesday, reaching $7.72. 1,327,776 shares of the stock were exchanged, compared to its average volume of 850,329. The company has a market capitalization of $671.64 million, a P/E ratio of -6.71 and a beta of 0.03. Rezolute, Inc. has a 52 week low of $2.21 and a 52 week high of $8.34. The company's 50 day moving average is $6.47 and its two-hundred day moving average is $4.65.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RZLT. Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Rezolute currently has an average rating of "Buy" and an average price target of $11.67.

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.