AdvisorShares Investments LLC Purchases 120,000 Shares of Relmada Therapeutics, Inc. $RLMD

AdvisorShares Investments LLC lifted its position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 43.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 396,514 shares of the company’s stock after acquiring an additional 120,000 shares during the quarter. AdvisorShares Investments LLC’s holdings in Relmada Therapeutics were worth $238,000 as of its most recent SEC filing.

Separately, Goldman Sachs Group Inc. bought a new position in shares of Relmada Therapeutics during the 1st quarter worth $33,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RLMD has been the topic of a number of recent research reports. Wall Street Zen raised Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $1.00.

Relmada Therapeutics Price Performance

Shares of RLMD stock opened at $2.32 on Friday. Relmada Therapeutics, Inc. has a 1-year low of $0.24 and a 1-year high of $3.67. The stock’s 50-day moving average is $1.76 and its 200 day moving average is $0.99. The company has a market cap of $77.00 million, a P/E ratio of -1.05 and a beta of 0.91.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). On average, analysts anticipate that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Relmada Therapeutics Profile

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.