Affinity Asset Advisors LLC Sells 803,503 Shares of Rezolute, Inc. $RZLT

Affinity Asset Advisors LLC decreased its stake in Rezolute, Inc. (NASDAQ:RZLT) by 34.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,547,641 shares of the company’s stock after selling 803,503 shares during the period. Affinity Asset Advisors LLC’s holdings in Rezolute were worth $4,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Jennison Associates LLC bought a new stake in Rezolute in the first quarter valued at approximately $10,489,000. Siren L.L.C. bought a new position in Rezolute during the 1st quarter worth approximately $10,151,000. Caitong International Asset Management Co. Ltd bought a new position in Rezolute during the 4th quarter worth approximately $494,000. Knott David M Jr lifted its position in shares of Rezolute by 8.8% in the 1st quarter. Knott David M Jr now owns 370,000 shares of the company’s stock worth $1,128,000 after purchasing an additional 30,000 shares during the period. Finally, AlphaCentric Advisors LLC lifted its position in shares of Rezolute by 6.2% in the 1st quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company’s stock worth $217,000 after purchasing an additional 4,171 shares during the period. 82.97% of the stock is owned by institutional investors and hedge funds.

Rezolute Stock Performance

Shares of NASDAQ:RZLT opened at $4.99 on Friday. The company has a market capitalization of $480.50 million, a P/E ratio of -6.09 and a beta of 0.54. The company’s 50-day moving average is $4.40 and its 200 day moving average is $3.57. Rezolute, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $11.46.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. As a group, research analysts predict that Rezolute, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Maxim Group increased their price objective on shares of Rezolute from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Zacks Research lowered shares of Rezolute from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Rezolute in a research report on Wednesday, June 3rd. Citigroup upgraded Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Rezolute in a research report on Tuesday, June 2nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.38.

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. It is also developing RZ402, an oral plasma kallikrein inhibitor, which is in clinical trial for the chronic treatment of diabetic macular edema.