Relmada Therapeutics, Inc. $RLMD Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 615.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,555 shares of the company’s stock after buying an additional 168,229 shares during the period. Profund Advisors LLC owned 0.18% of Relmada Therapeutics worth $737,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in Relmada Therapeutics during the second quarter worth about $77,316,000. Janus Henderson Group PLC raised its position in Relmada Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock worth $76,892,000 after buying an additional 3,793,862 shares during the last quarter. BlackRock Inc. purchased a new stake in Relmada Therapeutics in the 2nd quarter valued at approximately $51,393,000. Spruce Street Capital LP acquired a new stake in Relmada Therapeutics in the second quarter valued at $44,227,990. Finally, Orbimed Advisors LLC boosted its stake in shares of Relmada Therapeutics by 80.6% during 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 in the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Monday, September 14th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Relmada Therapeutics Trading Down 2.3%

Shares of Relmada Therapeutics stock opened at $4.17 on Thursday. The company’s 50-day moving average price is $3.81 and its two-hundred day moving average price is $5.32. Relmada Therapeutics, Inc. has a 52 week low of $2.42 and a 52 week high of $8.00. The stock has a market cap of $444.81 million, a PE ratio of -4.63 and a beta of 0.62.

Relmada Therapeutics (NASDAQ:RLMD) last released its 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. On average, equities analysts predict that Relmada Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Relmada Therapeutics

In related news, CFO Maged Shenouda bought 79,800 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was bought at an average cost of $4.25 per share, for a total transaction of $339,150.00. Following the transaction, the chief financial officer owned 1,000,000 shares of the company’s stock, valued at $4,250,000. This represents a 8.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.50% of the stock is currently owned by company insiders.

Relmada Therapeutics Profile

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders. The company’s research has primarily targeted conditions with significant unmet medical needs, including major depressive disorder and other neuropsychiatric diseases.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is designed to modulate the N-methyl-D-aspartate (NMDA) receptor and has been studied as a potential adjunctive treatment for major depressive disorder in patients who do not respond adequately to standard antidepressants.