Walleye Capital LLC Decreases Holdings in Rezolute, Inc. $RZLT

Key Points

• Walleye Capital LLC significantly reduced its stake in Rezolute, Inc. by 93.2%, now holding only 33,605 shares valued at approximately $97,000.
• Wall Street analysts show mixed sentiments on Rezolute, with HC Wainwright maintaining a "buy" rating and a $14 target price, while Wall Street Zen downgraded the stock to a "sell" rating.
• Insider activity includes a notable purchase by Director Young-Jin Kim, who acquired 1,230,769 shares at $3.25 each, increasing their ownership by 17.11%.

Walleye Capital LLC decreased its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 93.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,605 shares of the company's stock after selling 457,861 shares during the period. Walleye Capital LLC owned approximately 0.06% of Rezolute worth $97,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Alpine Global Management LLC bought a new stake in Rezolute during the fourth quarter valued at $54,000. Jeppson Wealth Management LLC bought a new stake in Rezolute during the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Rezolute by 48.5% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 19,799 shares of the company's stock worth $97,000 after purchasing an additional 6,470 shares during the last quarter. XTX Topco Ltd bought a new stake in Rezolute during the first quarter worth about $95,000. Finally, Balyasny Asset Management L.P. bought a new stake in Rezolute during the fourth quarter worth about $168,000. Institutional investors own 82.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Rezolute

In other Rezolute news, Director Young-Jin Kim acquired 1,230,769 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were acquired at an average cost of $3.25 per share, with a total value of $3,999,999.25. Following the transaction, the director owned 8,423,386 shares of the company's stock, valued at $27,376,004.50. The trade was a 17.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 1,241,345 shares of company stock valued at $4,041,196. Corporate insiders own 18.39% of the company's stock.

Rezolute Trading Up 1.6%

RZLT stock traded up $0.13 during midday trading on Tuesday, hitting $8.08. The company's stock had a trading volume of 972,412 shares, compared to its average volume of 926,737. The company has a market cap of $702.96 million, a PE ratio of -7.03 and a beta of 0.02. Rezolute, Inc. has a 12 month low of $2.21 and a 12 month high of $8.27. The firm's 50-day moving average is $6.10 and its 200-day moving average is $4.51.

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.