Deutsche Bank AG Takes $2.21 Million Position in Relmada Therapeutics, Inc. $RLMD

Deutsche Bank AG purchased a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 318,902 shares of the company’s stock, valued at approximately $2,207,000.

A number of other hedge funds also recently added to or reduced their stakes in RLMD. Janus Henderson Group PLC lifted its position in Relmada Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after acquiring an additional 3,793,862 shares in the last quarter. Squadron Capital Management LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth $32,361,000. Spruce Street Capital LP raised its stake in shares of Relmada Therapeutics by 53.3% in the first quarter. Spruce Street Capital LP now owns 6,262,114 shares of the company’s stock worth $42,998,000 after purchasing an additional 2,175,933 shares during the last quarter. Orbimed Advisors LLC lifted its holdings in shares of Relmada Therapeutics by 80.6% during the first quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company’s stock valued at $32,822,000 after purchasing an additional 2,105,264 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Relmada Therapeutics during the fourth quarter valued at $20,624,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

Relmada Therapeutics Trading Down 0.7%

NASDAQ:RLMD opened at $4.52 on Friday. The company has a market cap of $482.15 million, a PE ratio of -5.02 and a beta of 0.46. The company has a 50 day simple moving average of $5.56 and a two-hundred day simple moving average of $6.03. Relmada Therapeutics, Inc. has a 12 month low of $0.63 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 for the quarter, beating the consensus estimate of ($0.20) by $0.09. Research analysts forecast that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

RLMD has been the topic of several recent analyst reports. HC Wainwright started coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Relmada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price 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.