Ally Bridge Group NY LLC purchased a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 210,525 shares of the company's stock, valued at approximately $1,465,000. Relmada Therapeutics makes up approximately 1.2% of Ally Bridge Group NY LLC's portfolio, making the stock its 24th largest position. Ally Bridge Group NY LLC owned 0.20% of Relmada Therapeutics at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth about $35,041,000. Squadron Capital Management LLC bought a new position in shares of Relmada Therapeutics during the fourth quarter worth about $32,361,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Relmada Therapeutics during the fourth quarter worth about $20,624,000. Spruce Street Capital LP acquired a new position in Relmada Therapeutics in the fourth quarter worth about $19,736,000. Finally, Marshall Wace LLP grew its stake in Relmada Therapeutics by 1,072.4% in the fourth quarter. Marshall Wace LLP now owns 3,189,662 shares of the company's stock worth $15,406,000 after purchasing an additional 2,917,609 shares in the last quarter. 45.24% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on the company. HC Wainwright initiated coverage on Relmada Therapeutics in a 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 assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.
Get Our Latest Research Report on RLMD
Relmada Therapeutics Stock Performance
NASDAQ RLMD opened at $5.23 on Wednesday. Relmada Therapeutics, Inc. has a one year low of $0.55 and a one year high of $8.00. The company has a 50-day simple moving average of $6.35 and a 200-day simple moving average of $5.88. The firm has a market capitalization of $548.57 million, a PE ratio of -4.80 and a beta of 0.41.
Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.04). Equities analysts forecast that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current year.
About Relmada Therapeutics
(
Free Report)
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.
See Also
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