Rezolute, Inc. (NASDAQ:RZLT) Shares Sold by Vivo Capital LLC

Key Points

• Vivo Capital LLC reduced its stake in Rezolute, Inc. by 24.5%, selling 685,272 shares and now holding 2,112,432 shares, which accounts for 0.8% of its portfolio.
• Rezolute's stock price recently opened at $5.57, down 2.1%, with a market cap of $484.59 million and a reported loss of ($0.27) earnings per share.
• Wall Street analysts have mixed ratings on Rezolute, with a consensus price target of $12.20, while HC Wainwright set a bullish price objective of $14.00.

Vivo Capital LLC cut its stake in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 24.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,112,432 shares of the company's stock after selling 685,272 shares during the period. Rezolute comprises about 0.8% of Vivo Capital LLC's investment portfolio, making the stock its 29th biggest position. Vivo Capital LLC owned approximately 3.49% of Rezolute worth $6,126,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of RZLT. Man Group plc purchased a new stake in shares of Rezolute in the fourth quarter worth about $425,000. Geode Capital Management LLC lifted its position in shares of Rezolute by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 517,014 shares of the company's stock worth $2,535,000 after buying an additional 25,413 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Rezolute in the fourth quarter worth about $342,000. Barclays PLC purchased a new stake in shares of Rezolute in the fourth quarter worth about $314,000. Finally, Nantahala Capital Management LLC lifted its position in shares of Rezolute by 10.9% in the fourth quarter. Nantahala Capital Management LLC now owns 2,857,982 shares of the company's stock worth $14,004,000 after buying an additional 280,861 shares in the last quarter. 82.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RZLT shares. HC Wainwright reissued a "buy" rating and set a $14.00 price objective on shares of Rezolute in a research note on Monday, April 28th. Wedbush reissued an "outperform" rating and set a $12.00 price objective on shares of Rezolute in a research note on Wednesday, May 14th. Finally, Wall Street Zen cut Rezolute from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.20.

Rezolute Trading Up 5.0%

RZLT traded up $0.30 during midday trading on Tuesday, hitting $6.24. 284,545 shares of the company were exchanged, compared to its average volume of 932,465. The company's 50 day simple moving average is $5.01 and its 200 day simple moving average is $4.22. The firm has a market capitalization of $542.53 million, a price-to-earnings ratio of -5.43 and a beta of 0.18. Rezolute, Inc. has a 1-year low of $2.21 and a 1-year high of $6.64.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.05). On average, equities analysts anticipate that Rezolute, Inc. will post -0.93 EPS for the current year.

Insider Buying and Selling at Rezolute

In other news, Director Young-Jin Kim bought 1,230,769 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were acquired at an average price of $3.25 per share, for a total transaction of $3,999,999.25. Following the completion of the transaction, the director directly owned 8,423,386 shares in the company, valued at $27,376,004.50. The trade was a 17.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 1,241,345 shares of company stock valued at $4,041,196 in the last quarter. Company insiders own 18.39% of the company's stock.

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.