11,164,803 Shares in Relmada Therapeutics, Inc. $RLMD Purchased by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the 2nd quarter, Holdings Channel reports. The firm acquired 11,164,803 shares of the company’s stock, valued at approximately $77,316,000. Jupiter Topco LLC owned about 0.10% of Relmada Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RLMD. Walleye Capital LLC acquired a new stake in Relmada Therapeutics during the second quarter worth about $4,264,000. Janus Henderson Group PLC raised its holdings in Relmada Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after acquiring an additional 3,793,862 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in Relmada Therapeutics by 1,364.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 451,918 shares of the company’s stock valued at $3,145,000 after acquiring an additional 421,052 shares in the last quarter. Commodore Capital LP bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth approximately $4,412,000. Finally, Orbimed Advisors LLC lifted its position in shares of Relmada Therapeutics by 80.6% in the 1st quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company’s stock worth $32,822,000 after acquiring an additional 2,105,264 shares during the period. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Trading Down 0.7%

RLMD opened at $4.52 on Friday. Relmada Therapeutics, Inc. has a 1-year low of $0.63 and a 1-year high of $8.00. The stock has a market capitalization of $482.15 million, a PE ratio of -5.02 and a beta of 0.46. The firm has a 50-day moving average price of $5.56 and a two-hundred day moving average price of $6.03.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. On average, research analysts predict that Relmada Therapeutics, Inc. will post -0.6 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on RLMD. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. HC Wainwright initiated coverage on shares of Relmada Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About Relmada Therapeutics

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.