Spruce Street Capital LP Purchases Shares of 6,391,328 Relmada Therapeutics, Inc. $RLMD

Spruce Street Capital LP acquired a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,391,328 shares of the company’s stock, valued at approximately $44,227,990. Relmada Therapeutics comprises approximately 0.0% of Spruce Street Capital LP’s investment portfolio, making the stock its 4th largest holding. Spruce Street Capital LP owned about 5.99% of Relmada Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RLMD. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $28,000. LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at $33,000. Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth about $33,000. Schonfeld Strategic Advisors LLC bought a new stake in Relmada Therapeutics during the fourth quarter valued at about $64,000. Finally, Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics in the second quarter worth $69,000. Institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. HC Wainwright began coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Relmada Therapeutics Trading Down 3.8%

Shares of Relmada Therapeutics stock traded down $0.17 during trading on Friday, hitting $4.35. The stock had a trading volume of 326,916 shares, compared to its average volume of 1,513,339. The business’s 50-day moving average is $5.56 and its 200 day moving average is $6.03. The firm has a market cap of $464.01 million, a price-to-earnings ratio of -4.83 and a beta of 0.46. Relmada Therapeutics, Inc. has a 12 month low of $0.82 and a 12 month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. As a group, equities analysts expect that Relmada Therapeutics, Inc. will post -0.6 EPS for the current year.

Relmada Therapeutics Company 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.