OMERS ADMINISTRATION Corp Acquires 42,900 Shares of Rezolute, Inc. $RZLT

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Rezolute, Inc. by 56.4% during the first quarter, now holding 118,900 shares valued at approximately $345,000.
• Analysts have a consensus rating of "Buy" for Rezolute, with target prices ranging from $12.00 to $14.00, despite one analyst downgrading the stock to a "sell" rating.
• Director Young-Jin Kim purchased 1,230,769 shares at an average price of $3.25 per share, increasing ownership by 17.11%, while insiders collectively bought over 1.2 million shares in the last 90 days.

OMERS ADMINISTRATION Corp grew its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 56.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 118,900 shares of the company's stock after purchasing an additional 42,900 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.20% of Rezolute worth $345,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RZLT. Jeppson Wealth Management LLC purchased a new position in Rezolute in the 1st quarter worth approximately $35,000. Alpine Global Management LLC purchased a new position in Rezolute in the 4th quarter worth approximately $54,000. XTX Topco Ltd purchased a new position in Rezolute in the 1st quarter worth approximately $95,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Rezolute by 48.5% in the 4th 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, Pale Fire Capital SE raised its holdings in Rezolute by 9.1% in the 1st quarter. Pale Fire Capital SE now owns 47,122 shares of the company's stock worth $137,000 after acquiring an additional 3,935 shares during the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Rezolute news, Director Young-Jin Kim acquired 1,230,769 shares of the business's stock in a transaction dated 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 transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 1,241,345 shares of company stock worth $4,041,196. Insiders own 18.39% of the company's stock.

Rezolute Stock Up 1.6%

RZLT traded up $0.13 during mid-day trading on Tuesday, reaching $8.08. 270,768 shares of the company traded hands, compared to its average volume of 922,400. The stock has a market capitalization of $702.96 million, a P/E ratio of -7.03 and a beta of 0.02. The company's fifty day moving average price is $6.10 and its 200-day moving average price is $4.51. Rezolute, Inc. has a 52-week low of $2.21 and a 52-week high of $8.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RZLT. Wedbush restated an "outperform" rating and issued a $12.00 price objective on shares of Rezolute in a report on Wednesday, May 14th. Wall Street Zen lowered shares of Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of Rezolute in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $12.50.

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.