Commodore Capital LP Invests $4.41 Million in Relmada Therapeutics, Inc. $RLMD

Commodore Capital LP purchased a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 633,901 shares of the company’s stock, valued at approximately $4,412,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in Relmada Therapeutics during the first quarter valued at approximately $88,000. Keebeck Wealth Management bought a new stake in Relmada Therapeutics in the first quarter worth approximately $90,000. Schonfeld Strategic Advisors LLC bought a new stake in Relmada Therapeutics in the fourth quarter worth approximately $64,000. Renaissance Technologies LLC increased its stake in shares of Relmada Therapeutics by 9.0% during the 4th quarter. Renaissance Technologies LLC now owns 185,000 shares of the company’s stock worth $894,000 after purchasing an additional 15,300 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Relmada Therapeutics during the 4th quarter worth $85,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $5.18 on Monday. The company’s fifty day moving average is $6.41 and its two-hundred day moving average is $5.86. Relmada Therapeutics, Inc. has a 52-week low of $0.55 and a 52-week high of $8.00. The firm has a market capitalization of $543.33 million, a price-to-earnings ratio of -4.75 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 for the quarter, missing the consensus estimate of ($0.18) by ($0.04). As a group, sell-side analysts expect that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RLMD has been the subject of a number of recent research reports. HC Wainwright assumed coverage on shares of Relmada Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, Relmada Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.