Relmada Therapeutics (NASDAQ:RLMD) Trading Down 6.8% – Time to Sell?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) dropped 6.8% on Friday . The company traded as low as $4.97 and last traded at $5.0040. Approximately 1,056,702 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,554,860 shares. The stock had previously closed at $5.37.

Wall Street Analyst Weigh In

RLMD has been the topic of a number of analyst reports. 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 shares of Relmada Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Price Performance

The business’s 50-day moving average price is $6.10 and its two-hundred day moving average price is $5.94. The firm has a market cap of $523.93 million, a price-to-earnings ratio of -4.59 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.09. Equities analysts predict that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

Several large investors have recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in Relmada Therapeutics during the second quarter valued at approximately $28,000. LMR Partners LLP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter worth approximately $33,000. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics in the 1st quarter worth approximately $33,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter valued at approximately $64,000. Finally, Jane Street Group LLC bought a new stake in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $69,000. Institutional investors own 45.24% of the company’s stock.

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.