Commodore Capital LP Acquires New Position in Relmada Therapeutics, Inc. $RLMD

Commodore Capital LP purchased a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 633,901 shares of the company’s stock, valued at approximately $4,412,000. Commodore Capital LP owned 0.60% of Relmada Therapeutics as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC purchased a new position in shares of Relmada Therapeutics in the 4th quarter worth $35,041,000. Squadron Capital Management LLC purchased a new position in shares of Relmada Therapeutics in the fourth quarter valued at $32,361,000. Spruce Street Capital LP grew its stake in shares of Relmada Therapeutics by 53.3% during the first quarter. Spruce Street Capital LP now owns 6,262,114 shares of the company’s stock valued at $42,998,000 after acquiring an additional 2,175,933 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Relmada Therapeutics during the 4th quarter valued at approximately $20,624,000. Finally, Marshall Wace LLP grew its position in shares of Relmada Therapeutics by 1,072.4% during the fourth quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock worth $15,406,000 after buying an additional 2,917,609 shares in the last quarter. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

Relmada Therapeutics Price Performance

NASDAQ:RLMD opened at $5.18 on Monday. Relmada Therapeutics, Inc. has a 1-year low of $0.55 and a 1-year high of $8.00. The stock has a fifty day simple moving average of $6.41 and a 200 day simple moving average of $5.86. 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 quarterly 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). Equities analysts predict that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on RLMD shares. HC Wainwright started coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.