231,123 Shares in Relmada Therapeutics, Inc. $RLMD Bought by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd acquired a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 231,123 shares of the company’s stock, valued at approximately $1,116,000.

Several other large investors have also recently added to or reduced their stakes in RLMD. XTX Topco Ltd bought a new position in Relmada Therapeutics during the second quarter worth $28,000. Goldman Sachs Group Inc. acquired a new stake in Relmada Therapeutics in the first quarter worth $33,000. LMR Partners LLP acquired a new stake in Relmada Therapeutics in the second quarter worth $33,000. Jane Street Group LLC acquired a new stake in Relmada Therapeutics in the second quarter worth $69,000. Finally, Marshall Wace LLP acquired a new stake in Relmada Therapeutics in the second quarter worth $93,000. 45.24% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on RLMD. Mizuho increased 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. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Piper Sandler began coverage on Relmada Therapeutics in a research report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Relmada Therapeutics Stock Performance

Shares of RLMD opened at $6.55 on Wednesday. The firm has a market capitalization of $687.03 million, a price-to-earnings ratio of -6.01 and a beta of 0.39. Relmada Therapeutics, Inc. has a one year low of $0.52 and a one year high of $8.00. The stock’s fifty day moving average is $7.01 and its 200-day moving average is $5.50.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Analysts forecast that Relmada Therapeutics, Inc. will post -0.75 EPS for the current fiscal year.

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.