Velan Capital Investment Management LP Sells 400,000 Shares of Rezolute, Inc. $RZLT

Key Points

• Velan Capital Investment Management LP reduced its stake in Rezolute, Inc. by 50%, selling 400,000 shares during the 1st quarter, which now makes up 1.2% of its portfolio.
• Multiple institutional investors, including OMERS ADMINISTRATION Corp and Affinity Asset Advisors LLC, increased their holdings in Rezolute during the same period, indicating continued institutional interest in the company.
• Wall Street analysts have mixed ratings for Rezolute, with one brokerage downgrading the stock from "hold" to "sell," while another maintained an "outperform" rating and set a price target of $12.00.

Velan Capital Investment Management LP decreased its stake in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company's stock after selling 400,000 shares during the quarter. Rezolute comprises about 1.2% of Velan Capital Investment Management LP's investment portfolio, making the stock its 17th biggest holding. Velan Capital Investment Management LP owned about 0.66% of Rezolute worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RZLT. Woodline Partners LP raised its stake in Rezolute by 2,817.1% during the fourth quarter. Woodline Partners LP now owns 1,089,345 shares of the company's stock valued at $5,338,000 after buying an additional 1,052,002 shares during the last quarter. Susquehanna International Group LLP raised its stake in Rezolute by 749.0% during the fourth quarter. Susquehanna International Group LLP now owns 893,601 shares of the company's stock valued at $4,379,000 after buying an additional 788,349 shares during the last quarter. Integral Health Asset Management LLC raised its stake in Rezolute by 100.0% during the fourth quarter. Integral Health Asset Management LLC now owns 500,000 shares of the company's stock valued at $2,450,000 after buying an additional 250,000 shares during the last quarter. J. Goldman & Co LP purchased a new position in Rezolute during the fourth quarter valued at $1,140,000. Finally, Point72 Europe London LLP purchased a new position in Rezolute during the fourth quarter valued at $720,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Insider Buying and Selling

In related news, Director Young-Jin Kim purchased 1,230,769 shares of the business's stock in a transaction on Friday, June 13th. The stock was acquired at an average price of $3.25 per share, with a total value of $3,999,999.25. Following the completion of the acquisition, the director 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 SEC, which is accessible through the SEC website. Insiders acquired a total of 1,241,345 shares of company stock worth $4,041,196 in the last three months. 18.39% of the stock is currently owned by corporate insiders.

Rezolute Price Performance

Rezolute stock traded down $0.02 during mid-day trading on Wednesday, reaching $7.16. 196,081 shares of the stock traded hands, compared to its average volume of 921,681. The stock has a market capitalization of $622.49 million, a PE ratio of -6.23 and a beta of 0.03. Rezolute, Inc. has a 12-month low of $2.21 and a 12-month high of $7.46. The business's 50-day moving average is $5.84 and its 200-day moving average is $4.43.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of Rezolute in a research note on Wednesday. Wall Street Zen cut Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Wedbush restated an "outperform" rating and issued a $12.00 price target on shares of Rezolute in a research note on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Rezolute currently has a consensus rating of "Buy" and an average target price of $12.50.

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.