Acadian Asset Management LLC Grows Stake in Rezolute, Inc. $RZLT

Acadian Asset Management LLC raised its stake in Rezolute, Inc. (NASDAQ:RZLT) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605,042 shares of the company’s stock after acquiring an additional 50,163 shares during the period. Acadian Asset Management LLC owned approximately 1.00% of Rezolute worth $1,752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Man Group plc bought a new position in shares of Rezolute during the fourth quarter valued at $425,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Rezolute by 335.4% during the first quarter. Cubist Systematic Strategies LLC now owns 210,581 shares of the company’s stock valued at $611,000 after purchasing an additional 162,216 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Rezolute during the first quarter valued at $95,000. Ameriprise Financial Inc. bought a new position in shares of Rezolute during the fourth quarter valued at $342,000. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of Rezolute by 56.4% during the first quarter. OMERS ADMINISTRATION Corp now owns 118,900 shares of the company’s stock valued at $345,000 after purchasing an additional 42,900 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Rezolute Stock Up 3.3%

NASDAQ RZLT opened at $7.72 on Wednesday. The stock’s 50-day moving average price is $6.47 and its 200-day moving average price is $4.65. Rezolute, Inc. has a 52 week low of $2.21 and a 52 week high of $8.34. The company has a market capitalization of $671.64 million, a P/E ratio of -6.71 and a beta of 0.03.

Analysts Set New Price Targets

RZLT has been the topic of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of Rezolute in a report on Wednesday, September 3rd. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $11.67.

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.