Acadian Asset Management LLC Increases Holdings in Rezolute, Inc. (NASDAQ:RZLT)

Acadian Asset Management LLC grew its holdings in Rezolute, Inc. (NASDAQ:RZLT) by 104.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 184,502 shares of the company’s stock after acquiring an additional 94,156 shares during the quarter. Acadian Asset Management LLC owned about 0.46% of Rezolute worth $792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rosalind Advisors Inc. acquired a new position in Rezolute in the first quarter valued at approximately $510,000. Vanguard Group Inc. lifted its position in shares of Rezolute by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 1,553,352 shares of the company’s stock worth $3,961,000 after buying an additional 145,700 shares during the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Rezolute during the 1st quarter worth approximately $4,080,000. Virtu Financial LLC purchased a new position in shares of Rezolute in the 1st quarter valued at $37,000. Finally, Jeppson Wealth Management LLC purchased a new position in shares of Rezolute in the 2nd quarter valued at $45,000. Institutional investors and hedge funds own 82.97% of the company’s stock.

Rezolute Stock Down 3.1 %

RZLT opened at $4.99 on Wednesday. Rezolute, Inc. has a 52 week low of $0.72 and a 52 week high of $6.10. The business has a 50 day moving average price of $4.59 and a two-hundred day moving average price of $3.68. The company has a market cap of $200.27 million, a PE ratio of -4.38 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RZLT shares. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Rezolute in a research report on Monday, September 9th. Guggenheim started coverage on Rezolute in a research report on Tuesday, August 27th. They issued a “buy” rating and a $11.00 target price for the company. Maxim Group raised their price target on Rezolute from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BTIG Research boosted their price objective on Rezolute from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Craig Hallum began coverage on Rezolute in a report on Tuesday, June 4th. They issued a “buy” rating and a $14.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.75.

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.