GSA Capital Partners LLP Buys Shares of 141,443 Relmada Therapeutics, Inc. $RLMD

GSA Capital Partners LLP bought a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the 2nd quarter, Holdings Channel reports. The fund bought 141,443 shares of the company’s stock, valued at approximately $979,000.

Other institutional investors also recently modified their holdings of the company. Walleye Capital LLC acquired a new position in Relmada Therapeutics in the second quarter valued at approximately $4,264,000. Bank of America Corp DE grew its holdings in Relmada Therapeutics by 397.0% during the 1st quarter. Bank of America Corp DE now owns 125,941 shares of the company’s stock worth $877,000 after acquiring an additional 100,601 shares during the period. Stempoint Capital LP acquired a new stake in Relmada Therapeutics during the 1st quarter worth $4,158,000. Janus Henderson Group PLC raised its position in shares of Relmada Therapeutics by 52.2% during 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 during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Relmada Therapeutics in the 1st quarter valued at $1,465,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RLMD. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. HC Wainwright began coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $4.85 on Wednesday. The stock has a market cap of $517.35 million, a P/E ratio of -5.39 and a beta of 0.46. The firm has a 50 day moving average price of $5.83 and a 200 day moving average price of $5.99. Relmada Therapeutics, Inc. has a 52-week low of $0.59 and a 52-week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. Analysts predict that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current fiscal year.

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.