Relmada Therapeutics, Inc. $RLMD Stake Raised by Orbimed Advisors LLC

Orbimed Advisors LLC boosted its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 80.6% in the first quarter, HoldingsChannel reports. The fund owned 4,715,864 shares of the company’s stock after buying an additional 2,105,264 shares during the quarter. Orbimed Advisors LLC’s holdings in Relmada Therapeutics were worth $32,822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of RLMD. XTX Topco Ltd acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at about $28,000. LMR Partners LLP purchased a new stake in shares of Relmada Therapeutics in the second quarter worth approximately $33,000. Goldman Sachs Group Inc. purchased a new stake in shares of Relmada Therapeutics in the first quarter worth approximately $33,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Relmada Therapeutics during the fourth quarter worth approximately $64,000. Finally, Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics during the second quarter worth approximately $69,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RLMD. HC Wainwright started coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One investment 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Stock Performance

RLMD opened at $5.18 on Monday. The stock has a fifty day moving average price of $6.41 and a 200 day moving average price of $5.86. Relmada Therapeutics, Inc. has a 1 year low of $0.55 and a 1 year high of $8.00. The stock has a market cap of $543.33 million, a price-to-earnings ratio of -4.75 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD) last issued 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 forecast that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal 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.