ADAR1 Capital Management LLC Sells 212,497 Shares of Rezolute, Inc. (NASDAQ:RZLT)

ADAR1 Capital Management LLC trimmed its holdings in Rezolute, Inc. (NASDAQ:RZLT - Free Report) by 13.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,359,208 shares of the company's stock after selling 212,497 shares during the quarter. Rezolute comprises approximately 1.3% of ADAR1 Capital Management LLC's portfolio, making the stock its 15th biggest position. ADAR1 Capital Management LLC owned about 2.35% of Rezolute worth $6,660,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of RZLT. Jacobs Levy Equity Management Inc. bought a new stake in shares of Rezolute in the third quarter worth approximately $239,000. State Street Corp grew its position in Rezolute by 11.6% in the 3rd quarter. State Street Corp now owns 125,472 shares of the company's stock worth $609,000 after purchasing an additional 13,000 shares during the period. XTX Topco Ltd raised its stake in Rezolute by 67.4% during the 3rd quarter. XTX Topco Ltd now owns 56,375 shares of the company's stock valued at $273,000 after buying an additional 22,704 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Rezolute during the 3rd quarter valued at $57,000. Finally, Geode Capital Management LLC boosted its stake in shares of Rezolute by 39.0% in the 3rd quarter. Geode Capital Management LLC now owns 491,601 shares of the company's stock worth $2,385,000 after buying an additional 137,905 shares during the last quarter. Hedge funds and other institutional investors own 82.97% of the company's stock.

Rezolute Price Performance

RZLT stock remained flat at $2.47 during midday trading on Friday. The company's stock had a trading volume of 316,270 shares, compared to its average volume of 504,609. The firm has a market cap of $149.52 million, a price-to-earnings ratio of -2.02 and a beta of 0.97. The stock's 50-day simple moving average is $3.71 and its 200 day simple moving average is $4.56. Rezolute, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $6.19.

Rezolute (NASDAQ:RZLT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.11. As a group, equities research analysts forecast that Rezolute, Inc. will post -0.93 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on RZLT shares. HC Wainwright reissued a "buy" rating and issued a $14.00 target price on shares of Rezolute in a research report on Thursday, February 13th. Guggenheim reiterated a "buy" rating on shares of Rezolute in a research note on Monday, February 10th. JMP Securities upped their price objective on Rezolute from $8.00 to $9.00 and gave the stock a "market outperform" rating in a research note on Thursday, February 13th. Finally, Craig Hallum upgraded Rezolute to a "strong-buy" rating in a research report on Tuesday, February 4th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rezolute presently has a consensus rating of "Buy" and a consensus price target of $24.38.

Insider Transactions at Rezolute

In other Rezolute news, CFO Daron Evans bought 10,000 shares of Rezolute stock in a transaction on Wednesday, March 26th. The shares were acquired at an average price of $2.89 per share, for a total transaction of $28,900.00. Following the completion of the purchase, the chief financial officer now directly owns 237,900 shares in the company, valued at approximately $687,531. This trade represents a 4.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nevan C. Elam bought 12,302 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were acquired at an average price of $2.85 per share, with a total value of $35,060.70. Following the completion of the transaction, the chief executive officer now owns 224,119 shares of the company's stock, valued at approximately $638,739.15. The trade was a 5.81 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 39,060 shares of company stock worth $130,694. 18.39% of the stock is currently owned by company insiders.

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.