22NW LP Invests $7.71 Million in Rezolute, Inc. $RZLT

22NW LP purchased a new position in shares of Rezolute, Inc. (NASDAQ:RZLT) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 820,653 shares of the company’s stock, valued at approximately $7,714,000. Rezolute makes up 4.0% of 22NW LP’s portfolio, making the stock its 8th largest position. 22NW LP owned about 0.88% of Rezolute as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its holdings in shares of Rezolute by 24.4% during the second quarter. Federated Hermes Inc. now owns 14,034,712 shares of the company’s stock worth $62,595,000 after buying an additional 2,755,385 shares in the last quarter. Stonepine Capital Management LLC bought a new position in shares of Rezolute in the 2nd quarter valued at $977,000. Geode Capital Management LLC boosted its holdings in shares of Rezolute by 201.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,711,043 shares of the company’s stock valued at $7,633,000 after acquiring an additional 1,143,834 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Rezolute by 56.4% during the 2nd quarter. Marshall Wace LLP now owns 2,886,481 shares of the company’s stock valued at $12,874,000 after acquiring an additional 1,041,234 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its position in Rezolute by 29.4% during the 2nd quarter. Affinity Asset Advisors LLC now owns 2,200,000 shares of the company’s stock worth $9,812,000 after acquiring an additional 500,000 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on RZLT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rezolute in a report on Thursday, January 22nd. Citigroup lowered Rezolute from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Citizens Jmp cut Rezolute from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 11th. Wall Street Zen downgraded Rezolute from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, HC Wainwright dropped their price objective on shares of Rezolute from $14.00 to $5.00 and set a “buy” rating for the company in a report on Friday, December 12th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.63.

Rezolute Price Performance

Rezolute stock opened at $2.60 on Friday. The stock’s 50 day moving average is $3.09 and its 200 day moving average is $6.10. The firm has a market cap of $248.81 million, a P/E ratio of -2.80 and a beta of 0.51. Rezolute, Inc. has a one year low of $1.07 and a one year high of $11.46.

Rezolute (NASDAQ:RZLT) last announced its earnings results on Thursday, February 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.06). Equities analysts anticipate that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Rezolute

In other news, CFO Daron Evans purchased 40,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were acquired at an average price of $1.77 per share, with a total value of $70,800.00. Following the completion of the transaction, the chief financial officer owned 415,900 shares of the company’s stock, valued at $736,143. The trade was a 10.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nevan C. Elam purchased 32,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were purchased at an average cost of $1.59 per share, for a total transaction of $50,880.00. Following the transaction, the chief executive officer directly owned 641,119 shares of the company’s stock, valued at approximately $1,019,379.21. The trade was a 5.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 89,100 shares of company stock valued at $150,232. 14.78% of the stock is currently owned by corporate insiders.

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.