Siren L.L.C. Acquires New Position in Rezolute, Inc. $RZLT

Key Points

• Siren L.L.C. opened a new position in Rezolute during the first quarter, buying 3.33 million shares valued at about $10.15 million. The stake represented roughly 3.48% of the company.
• Rezolute shares were up 6.2% to $5.31, and the stock has traded between $1.07 and $11.46 over the past 52 weeks. The company’s market cap is about $511.3 million.
• Analysts are mixed but generally constructive: the stock carries a Moderate Buy consensus with a $9.38 average price target. Rezolute also recently beat quarterly earnings expectations by posting a loss of $0.16 per share versus the $0.17 estimate.

Siren L.L.C. bought a new position in Rezolute, Inc. (NASDAQ:RZLT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,328,287 shares of the company's stock, valued at approximately $10,151,000. Siren L.L.C. owned about 3.48% of Rezolute at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Rezolute by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 33,201 shares of the company's stock valued at $312,000 after acquiring an additional 1,567 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rezolute by 5.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,659 shares of the company's stock worth $363,000 after acquiring an additional 2,014 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Rezolute by 8.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,088 shares of the company's stock valued at $107,000 after purchasing an additional 3,630 shares in the last quarter. AlphaCentric Advisors LLC boosted its stake in shares of Rezolute by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company's stock valued at $217,000 after purchasing an additional 4,171 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Rezolute during the 2nd quarter valued at $25,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Stock Up 6.2%

Shares of NASDAQ RZLT opened at $5.31 on Friday. The firm's fifty day moving average is $4.37 and its 200 day moving average is $3.56. Rezolute, Inc. has a 52 week low of $1.07 and a 52 week high of $11.46. The company has a market cap of $511.30 million, a price-to-earnings ratio of -6.48 and a beta of 0.54.

Rezolute (NASDAQ:RZLT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Equities research analysts anticipate that Rezolute, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on RZLT. Weiss Ratings reissued a "sell (d-)" rating on shares of Rezolute in a research note on Friday, July 17th. Guggenheim raised their price objective on Rezolute from $6.00 to $11.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Citigroup raised Rezolute from a "market perform" rating to an "outperform" rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald reissued a "neutral" rating on shares of Rezolute in a research note on Wednesday, June 3rd. Finally, Wedbush boosted their target price on Rezolute from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Rezolute has a consensus rating of "Moderate Buy" and a consensus price target of $9.38.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.

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