Wall Street Zen Upgrades Relmada Therapeutics (NASDAQ:RLMD) to Hold

Relmada Therapeutics (NASDAQ:RLMD) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $1.00.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $2.04 on Friday. The business’s 50 day moving average price is $1.31 and its 200-day moving average price is $0.81. Relmada Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $3.98. The company has a market cap of $67.71 million, a price-to-earnings ratio of -0.92 and a beta of 0.91.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Sell-side analysts predict that Relmada Therapeutics will post -2.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $120,000. LMR Partners LLP purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $33,000. Jane Street Group LLC purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $69,000. Marshall Wace LLP purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $93,000. Finally, XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $28,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

About Relmada Therapeutics

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.