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

Affinity Asset Advisors LLC trimmed its holdings in shares of Rezolute, Inc. (NASDAQ:RZLT) by 34.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,547,641 shares of the company’s stock after selling 803,503 shares during the quarter. Affinity Asset Advisors LLC owned 1.61% of Rezolute worth $4,720,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RZLT. Jennison Associates LLC bought a new stake in Rezolute during the 1st quarter worth about $10,489,000. Siren L.L.C. bought a new position in shares of Rezolute in the 1st quarter valued at about $10,151,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Rezolute in the 4th quarter valued at about $494,000. Knott David M Jr increased its position in shares of Rezolute by 8.8% in the first quarter. Knott David M Jr now owns 370,000 shares of the company’s stock valued at $1,128,000 after acquiring an additional 30,000 shares during the last quarter. Finally, AlphaCentric Advisors LLC increased its position in shares of Rezolute by 6.2% in the first quarter. AlphaCentric Advisors LLC now owns 71,227 shares of the company’s stock valued at $217,000 after acquiring an additional 4,171 shares during the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.

Rezolute Stock Down 6.0%

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

Rezolute (NASDAQ:RZLT) last posted its earnings results on Tuesday, May 12th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. As a group, equities research analysts expect that Rezolute, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

RZLT has been the topic of several recent analyst reports. Wall Street Zen lowered Rezolute from a “hold” rating to a “sell” rating in a research report on Tuesday, June 30th. Citigroup upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 3rd. Wedbush upped their price target on shares of Rezolute from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Citizens Jmp upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 price target for the company in a research note 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 investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.38.

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