597,409 Shares in Relmada Therapeutics, Inc. $RLMD Bought by Stempoint Capital LP

Key Points

• Stempoint Capital bought 597,409 shares of Relmada Therapeutics valued at approximately $4.16 million, representing a 0.57% stake. Institutional investors collectively own 45.24% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $12.00 price target, despite Weiss Ratings maintaining a “sell” rating.
• Relmada shares opened at $5.14 and recently traded below their 50-day average; the company also reported a quarterly loss of $0.22 per share, missing estimates by $0.04.

Stempoint Capital LP purchased a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 597,409 shares of the company's stock, valued at approximately $4,158,000. Stempoint Capital LP owned 0.57% of Relmada Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RLMD. State of Wyoming acquired a new position in Relmada Therapeutics during the first quarter worth $88,000. Keebeck Wealth Management acquired a new position in shares of Relmada Therapeutics during the first quarter valued at about $90,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter valued at about $64,000. Renaissance Technologies LLC increased its position in shares of Relmada Therapeutics by 9.0% during the fourth quarter. Renaissance Technologies LLC now owns 185,000 shares of the company's stock worth $894,000 after acquiring an additional 15,300 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Relmada Therapeutics during the fourth quarter worth about $85,000. Institutional investors own 45.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed 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 report on Thursday, June 18th. They set a "buy" rating and a $12.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued 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 a consensus price target of $12.00.

Relmada Therapeutics Trading Down 1.7%

NASDAQ RLMD opened at $5.14 on Thursday. The business has a fifty day simple moving average of $6.31 and a 200 day simple moving average of $5.88. Relmada Therapeutics, Inc. has a 12 month low of $0.55 and a 12 month high of $8.00. The firm has a market capitalization of $539.13 million, a P/E ratio of -4.72 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last posted its quarterly earnings data 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). As a group, sell-side analysts predict that Relmada Therapeutics, Inc. will post -0.82 EPS 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.

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