Nantahala Capital Management LLC Cuts Holdings in Rezolute, Inc. (NASDAQ:RZLT)

Nantahala Capital Management LLC lessened its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT) by 1.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,989,963 shares of the company’s stock after selling 32,984 shares during the quarter. Rezolute accounts for about 0.8% of Nantahala Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Nantahala Capital Management LLC owned approximately 7.45% of Rezolute worth $12,857,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RZLT. Vanguard Group Inc. grew its stake in shares of Rezolute by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock valued at $3,961,000 after buying an additional 145,700 shares in the last quarter. Affinity Asset Advisors LLC grew its stake in Rezolute by 15.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,850,000 shares of the company’s stock valued at $7,955,000 after purchasing an additional 250,000 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Rezolute in the 1st quarter valued at approximately $37,000. Acadian Asset Management LLC purchased a new position in shares of Rezolute during the 1st quarter valued at approximately $229,000. Finally, Federated Hermes Inc. raised its stake in shares of Rezolute by 11.1% in the 2nd quarter. Federated Hermes Inc. now owns 11,279,327 shares of the company’s stock valued at $48,501,000 after purchasing an additional 1,125,000 shares in the last quarter. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Trading Down 2.6 %

NASDAQ RZLT opened at $4.85 on Tuesday. The company has a market capitalization of $194.65 million, a PE ratio of -4.25 and a beta of 1.18. Rezolute, Inc. has a 1-year low of $0.72 and a 1-year high of $6.10. The firm’s fifty day simple moving average is $4.65 and its 200-day simple moving average is $3.87.

Rezolute (NASDAQ:RZLT) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.14). As a group, analysts predict that Rezolute, Inc. will post -1.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RZLT shares. Craig Hallum assumed coverage on Rezolute in a research note on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price target for the company. BTIG Research upped their price objective on Rezolute from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Guggenheim began coverage on Rezolute in a report on Tuesday, August 27th. They set a “buy” rating and a $11.00 price target on the stock. Maxim Group increased their price objective on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and set a $14.00 price target on shares of Rezolute in a research report on Friday. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rezolute presently has a consensus rating of “Buy” and a consensus price target of $11.57.

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.