348,265 Shares in Relmada Therapeutics, Inc. $RLMD Acquired by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP purchased a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 348,265 shares of the company’s stock, valued at approximately $2,410,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc acquired a new stake in shares of Relmada Therapeutics during the second quarter worth $64,000. State of Wyoming acquired a new position in shares of Relmada Therapeutics in the 1st quarter valued at $88,000. Keebeck Wealth Management purchased a new position in Relmada Therapeutics in the 1st quarter worth $90,000. Schonfeld Strategic Advisors LLC purchased a new position in Relmada Therapeutics in the 4th quarter worth $64,000. Finally, Virtu Financial LLC acquired a new stake in Relmada Therapeutics during the 4th quarter worth about $85,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

Shares of Relmada Therapeutics stock opened at $4.43 on Friday. The firm has a fifty day moving average price of $5.29 and a 200 day moving average price of $6.03. Relmada Therapeutics, Inc. has a 1 year low of $1.30 and a 1 year high of $8.00. The stock has a market cap of $472.55 million, a PE ratio of -4.92 and a beta of 0.45.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.09. As a group, equities analysts expect that Relmada Therapeutics, Inc. will post -0.6 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright began coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Relmada Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $12.00.

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.