Nantahala Capital Management LLC Has $3.75 Million Stake in Rezolute, Inc. $RZLT

Key Points

• Nantahala Capital Management LLC reduced its stake in Rezolute, Inc. by 54.8%, selling 1,566,587 shares and now owning approximately 1,291,395 shares valued at about $3.75 million.
• Analysts' ratings indicate that the consensus on Rezolute stock is a "Buy" with a target price of $12.50, although Wall Street Zen has recently downgraded it to a "sell" rating.
• Insider trading activity includes Director Young-Jin Kim purchasing 1,230,769 shares at an average price of $3.25 per share, indicating a significant increase in his position.

Nantahala Capital Management LLC cut its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 54.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,395 shares of the company's stock after selling 1,566,587 shares during the period. Nantahala Capital Management LLC owned about 2.13% of Rezolute worth $3,745,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RZLT. Jeppson Wealth Management LLC bought a new position in Rezolute in the 1st quarter valued at $35,000. Alpine Global Management LLC bought a new position in Rezolute in the 4th quarter valued at $54,000. XTX Topco Ltd bought a new position in Rezolute in the 1st quarter valued at $95,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Rezolute by 48.5% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock valued at $97,000 after buying an additional 6,470 shares during the last quarter. Finally, Pale Fire Capital SE boosted its position in Rezolute by 9.1% in the 1st quarter. Pale Fire Capital SE now owns 47,122 shares of the company's stock valued at $137,000 after buying an additional 3,935 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors.

Rezolute Stock Up 8.4%

Rezolute stock traded up $0.62 during mid-day trading on Friday, hitting $8.00. 1,560,202 shares of the company's stock were exchanged, compared to its average volume of 927,880. The company's 50 day simple moving average is $5.96 and its 200-day simple moving average is $4.46. The firm has a market capitalization of $696 million, a P/E ratio of -6.96 and a beta of 0.03. Rezolute, Inc. has a fifty-two week low of $2.21 and a fifty-two week high of $8.06.

Analyst Ratings Changes

A number of brokerages have commented on RZLT. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Rezolute in a research report on Wednesday. Wedbush reiterated an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $12.50.

Insiders Place Their Bets

In other Rezolute news, Director Young-Jin Kim bought 1,230,769 shares of Rezolute 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 acquisition, the director owned 8,423,386 shares in the company, valued at approximately $27,376,004.50. The trade was a 17.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought 1,241,345 shares of company stock worth $4,041,196 in the last 90 days. Insiders own 18.39% of the company's stock.

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.