Seven Fleet Capital Management LP acquired a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 154,109 shares of the company’s stock, valued at approximately $744,000.
Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter worth $35,041,000. Squadron Capital Management LLC acquired a new stake in Relmada Therapeutics during the 4th quarter valued at $32,361,000. Adage Capital Partners GP L.L.C. acquired a new stake in Relmada Therapeutics during the 4th quarter valued at $20,624,000. Spruce Street Capital LP purchased a new stake in Relmada Therapeutics during the 4th quarter worth $19,736,000. Finally, Marshall Wace LLP increased its stake in Relmada Therapeutics by 1,072.4% during the 4th quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock worth $15,406,000 after buying an additional 2,917,609 shares during the period. Hedge funds and other institutional investors own 45.24% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. HC Wainwright began coverage on shares of Relmada Therapeutics in a research report on Thursday. They issued a “buy” rating and a $12.00 price objective for the company. Mizuho lifted their target price on Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, March 20th. Piper Sandler started coverage on Relmada Therapeutics in a research note on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price target on the stock. Finally, Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $12.00.
Relmada Therapeutics Price Performance
RLMD opened at $6.73 on Friday. The stock has a market capitalization of $705.91 million, a PE ratio of -6.17 and a beta of 0.39. The firm’s fifty day moving average price is $7.01 and its 200 day moving average price is $5.53. Relmada Therapeutics, Inc. has a 12-month low of $0.52 and a 12-month high of $8.00.
Relmada Therapeutics (NASDAQ:RLMD – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, equities research analysts forecast that Relmada Therapeutics, Inc. will post -0.75 earnings per share for the current fiscal year.
Relmada Therapeutics 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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