Velan Capital Investment Management LP Has $3.35 Million Stock Position in Rezolute, Inc. $RZLT

by · The Markets Daily

Velan Capital Investment Management LP boosted its position in shares of Rezolute, Inc. (NASDAQ:RZLT – Free Report) by 87.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 750,000 shares of the company’s stock after purchasing an additional 350,000 shares during the period. Rezolute comprises about 3.3% of Velan Capital Investment Management LP’s investment portfolio, making the stock its 12th biggest position. Velan Capital Investment Management LP owned 0.86% of Rezolute worth $3,345,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RZLT. Ameritas Investment Partners Inc. acquired a new stake in shares of Rezolute during the second quarter worth approximately $30,000. Legal & General Group Plc acquired a new position in shares of Rezolute in the 2nd quarter worth approximately $32,000. ProShare Advisors LLC bought a new stake in Rezolute during the 2nd quarter worth approximately $61,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Rezolute during the 2nd quarter valued at $68,000. Finally, Retireful LLC acquired a new stake in Rezolute during the 2nd quarter valued at $70,000. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on RZLT shares. JMP Securities set a $17.00 price objective on Rezolute in a research note on Wednesday, October 29th. Jefferies Financial Group reiterated a “buy” rating and set a $20.00 price target on shares of Rezolute in a research report on Friday. Guggenheim restated a “buy” rating and issued a $15.00 price objective on shares of Rezolute in a research report on Monday, September 22nd. Wedbush reiterated an “outperform” rating and set a $12.00 target price on shares of Rezolute in a research report on Thursday, September 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

Read Our Latest Research Report on Rezolute

Rezolute Stock Down 3.1%

Shares of RZLT stock opened at $9.85 on Wednesday. The firm has a market cap of $913.37 million, a price-to-earnings ratio of -10.59 and a beta of 0.21. Rezolute, Inc. has a 12 month low of $2.21 and a 12 month high of $11.46. The stock has a 50-day moving average price of $9.42 and a 200 day moving average price of $7.17.

Rezolute (NASDAQ:RZLT – Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.09. Sell-side analysts predict that Rezolute, Inc. will post -0.93 earnings per share for the current fiscal year.

Rezolute Profile

(Free Report)

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.

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