Stempoint Capital LP Makes New Investment in Relmada Therapeutics, Inc. $RLMD

Stempoint Capital LP bought a new position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the first quarter, Holdings Channel.com reports. The firm bought 597,409 shares of the company’s stock, valued at approximately $4,158,000.

Several other institutional investors also recently modified their holdings of RLMD. XTX Topco Ltd purchased a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $28,000. LMR Partners LLP bought a new stake in Relmada Therapeutics during the second quarter worth $33,000. Goldman Sachs Group Inc. purchased a new position in Relmada Therapeutics in the first quarter worth $33,000. Schonfeld Strategic Advisors LLC purchased a new position in Relmada Therapeutics in the fourth quarter worth $64,000. Finally, Jane Street Group LLC bought a new position in Relmada Therapeutics in the 2nd quarter valued at $69,000. 45.24% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on RLMD shares. HC Wainwright began coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Relmada Therapeutics Trading Down 1.7%

Shares of NASDAQ RLMD opened at $5.14 on Thursday. The stock has a fifty day simple moving average of $6.31 and a two-hundred day simple moving average of $5.88. Relmada Therapeutics, Inc. has a 1-year low of $0.55 and a 1-year high of $8.00. The firm has a market cap of $539.13 million, a price-to-earnings ratio of -4.72 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD) last released its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Analysts forecast that Relmada Therapeutics, Inc. will post -0.82 EPS for the current year.

Relmada Therapeutics 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.