Knott David M Jr Acquires Shares of 439,300 Relmada Therapeutics, Inc. $RLMD

Knott David M Jr acquired a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 439,300 shares of the company’s stock, valued at approximately $3,058,000. Relmada Therapeutics comprises 1.8% of Knott David M Jr’s holdings, making the stock its 16th largest holding.

Several other hedge funds have also recently modified their holdings of RLMD. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the second quarter worth $28,000. Goldman Sachs Group Inc. purchased a new position in Relmada Therapeutics during the first quarter valued at $33,000. LMR Partners LLP purchased a new position in Relmada Therapeutics during the second quarter valued at $33,000. Schonfeld Strategic Advisors LLC bought a new stake in Relmada Therapeutics in the 4th quarter valued at $64,000. Finally, Jane Street Group LLC bought a new stake in Relmada Therapeutics in the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

Relmada Therapeutics Price Performance

Shares of RLMD opened at $5.20 on Friday. The stock has a market capitalization of $545.43 million, a price-to-earnings ratio of -4.77 and a beta of 0.41. Relmada Therapeutics, Inc. has a 1 year low of $0.55 and a 1 year high of $8.00. The business’s 50 day simple moving average is $6.45 and its 200-day simple moving average is $5.86.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). On average, sell-side analysts expect that Relmada Therapeutics, Inc. will post -0.82 earnings per share 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.