Jennison Associates LLC Acquires Shares of 3,438,881 Rezolute, Inc. $RZLT

Jennison Associates LLC bought a new position in shares of Rezolute, Inc. (NASDAQ:RZLT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,438,881 shares of the company’s stock, valued at approximately $10,489,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RZLT. Goldman Sachs Group Inc. purchased a new stake in shares of Rezolute during the first quarter valued at approximately $685,000. JPMorgan Chase & Co. purchased a new stake in shares of Rezolute during the 2nd quarter valued at $141,000. Legal & General Group Plc purchased a new stake in shares of Rezolute during the 2nd quarter valued at $32,000. Rhumbline Advisers bought a new stake in shares of Rezolute during the 2nd quarter worth $432,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Rezolute during the 2nd quarter worth $104,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Rezolute Price Performance

Shares of RZLT opened at $5.09 on Wednesday. Rezolute, Inc. has a 1 year low of $1.07 and a 1 year high of $11.46. The stock’s fifty day moving average price is $4.30 and its two-hundred day moving average price is $3.52. The firm has a market cap of $490.13 million, a PE ratio of -6.21 and a beta of 0.54.

Rezolute (NASDAQ:RZLT) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. Sell-side analysts anticipate that Rezolute, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RZLT. Citigroup upgraded shares of Rezolute from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 3rd. Guggenheim lifted their price objective on shares of Rezolute from $6.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rezolute in a research note on Friday. Citizens Jmp raised shares of Rezolute from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research report on Wednesday, June 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of Rezolute in a research report on Tuesday, June 2nd. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Rezolute presently has an average rating of “Moderate Buy” and a consensus price target of $9.38.

About Rezolute

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.