Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04), FiscalAI reports.
Relmada Therapeutics Trading Up 1.2%
NASDAQ RLMD traded up $0.09 on Tuesday, reaching $7.45. 1,441,582 shares of the stock were exchanged, compared to its average volume of 1,435,479. Relmada Therapeutics has a one year low of $0.36 and a one year high of $8.00. The firm has a market capitalization of $781.43 million, a PE ratio of -5.14 and a beta of 0.43. The company’s 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $4.84.
Institutional Investors Weigh In On Relmada Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLMD. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the 1st quarter worth approximately $33,000. XTX Topco Ltd bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Marshall Wace LLP bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Jane Street Group LLC bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $69,000. Finally, LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $33,000. Institutional investors own 45.24% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Report on RLMD
Relmada Therapeutics Company Profile
Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.
Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.
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