6,391,328 Shares in Relmada Therapeutics, Inc. $RLMD Purchased by Spruce Street Capital LP

Spruce Street Capital LP purchased a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,391,328 shares of the company’s stock, valued at approximately $44,227,990,000. Relmada Therapeutics comprises 8.7% of Spruce Street Capital LP’s holdings, making the stock its 4th biggest holding. Spruce Street Capital LP owned approximately 0.06% of Relmada Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of RLMD. Goldman Sachs Group Inc. bought a new position in shares of Relmada Therapeutics during the 1st quarter worth approximately $33,000. XTX Topco Ltd bought a new stake in Relmada Therapeutics in the 2nd quarter valued at $28,000. Marshall Wace LLP bought a new stake in Relmada Therapeutics in the 2nd quarter valued at $93,000. Jane Street Group LLC bought a new stake in Relmada Therapeutics in the 2nd quarter valued at $69,000. Finally, LMR Partners LLP acquired a new stake in Relmada Therapeutics during the 2nd quarter valued at $33,000. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

Shares of NASDAQ RLMD opened at $4.58 on Tuesday. The firm has a market cap of $488.55 million, a price-to-earnings ratio of -5.09 and a beta of 0.46. The stock’s fifty day moving average price is $5.69 and its two-hundred day moving average price is $6.01. Relmada Therapeutics, Inc. has a one year low of $0.60 and a one year high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. On average, equities analysts anticipate that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RLMD. HC Wainwright assumed coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, five have given 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 has an average rating of “Moderate Buy” and an average price target of $12.00.

About Relmada Therapeutics

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.