Walleye Capital LLC Lowers Position 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 lessened its position in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 93.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,605 shares of the company's stock after selling 457,861 shares during the period. Walleye Capital LLC owned 0.06% of Rezolute worth $97,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RZLT. Man Group plc bought a new stake in shares of Rezolute during the 4th quarter valued at about $425,000. XTX Topco Ltd bought a new stake in shares of Rezolute during the 1st quarter valued at about $95,000. Ameriprise Financial Inc. bought a new stake in shares of Rezolute during the 4th quarter valued at about $342,000. Barclays PLC bought a new stake in shares of Rezolute during the 4th quarter valued at about $314,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Rezolute by 222.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 185,768 shares of the company's stock valued at $910,000 after purchasing an additional 128,190 shares in the last quarter. Institutional investors and hedge funds own 82.97% of the company's stock.

Insiders Place Their Bets

In other news, Director Young-Jin Kim purchased 1,230,769 shares of the company's 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 purchase, the director owned 8,423,386 shares in the company, valued at $27,376,004.50. This represents a 17.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 1,241,345 shares of company stock worth $4,041,196. 18.39% of the stock is currently owned by corporate insiders.

Rezolute Trading Down 1.6%

RZLT stock traded down $0.13 during trading on Thursday, reaching $7.97. 538,338 shares of the stock were exchanged, compared to its average volume of 815,810. The firm's 50 day moving average is $6.30 and its 200 day moving average is $4.58. Rezolute, Inc. has a twelve month low of $2.21 and a twelve month high of $8.34. The firm has a market cap of $693.39 million, a P/E ratio of -6.93 and a beta of 0.03.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of Rezolute in a research report on Wednesday, September 3rd. Wall Street Zen lowered Rezolute from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Wedbush restated an "outperform" rating and set a $12.00 target price on shares of Rezolute in a research report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $11.67.

Rezolute 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.