Corient Private Wealth LP Makes New Investment in Relmada Therapeutics, Inc. $RLMD

Corient Private Wealth LP acquired a new position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 719,582 shares of the company’s stock, valued at approximately $4,933,000. Corient Private Wealth LP owned approximately 0.67% of Relmada Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RLMD. XTX Topco Ltd bought a new stake in Relmada Therapeutics in the 2nd quarter worth approximately $28,000. LMR Partners LLP bought a new position in Relmada Therapeutics during the second quarter valued at approximately $33,000. Goldman Sachs Group Inc. bought a new position in Relmada Therapeutics during the first quarter valued at approximately $33,000. Legal & General Group Plc purchased a new position in shares of Relmada Therapeutics during the second quarter worth approximately $64,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth approximately $64,000. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Stock Up 0.7%

Shares of NASDAQ RLMD opened at $4.36 on Tuesday. The firm’s fifty day moving average is $5.47 and its 200 day moving average is $6.03. Relmada Therapeutics, Inc. has a 52 week low of $0.82 and a 52 week high of $8.00. The company has a market cap of $465.08 million, a price-to-earnings ratio of -4.84 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.09. Equities research analysts anticipate that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on RLMD shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. HC Wainwright began coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.