719,582 Shares in Relmada Therapeutics, Inc. $RLMD Bought by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 719,582 shares of the company’s stock, valued at approximately $4,933,000.

Several other hedge funds also recently made changes to their positions in RLMD. Jupiter Topco LLC bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at $77,316,000. BlackRock Inc. bought a new position in shares of Relmada Therapeutics in the second quarter worth approximately $51,393,000. Janus Henderson Group PLC purchased a new stake in Relmada Therapeutics during the 4th quarter valued at $35,041,000. Squadron Capital Management LLC purchased a new stake in shares of Relmada Therapeutics during the fourth quarter valued at $32,361,000. Finally, Spruce Street Capital LP bought a new stake in shares of Relmada Therapeutics in the second quarter worth approximately $44,227,990. 45.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Relmada Therapeutics Stock Performance

RLMD opened at $4.36 on Tuesday. Relmada Therapeutics, Inc. has a fifty-two week low of $0.82 and a fifty-two week high of $8.00. The firm’s fifty day moving average is $5.47 and its 200 day moving average is $6.03. The stock has a market cap of $465.08 million, a price-to-earnings ratio of -4.84 and a beta of 0.46.

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

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.