616,238 Shares in Relmada Therapeutics, Inc. $RLMD Acquired by Walleye Capital LLC

Key Points

• Walleye Capital acquired 616,238 shares of Relmada Therapeutics worth approximately $4.26 million, representing about 0.59% of the company. Institutional investors collectively own 45.24% of RLMD.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $12.00 price target, although Weiss Ratings maintained a “sell” rating.
• RLMD shares opened at $4.80, while the company reported a quarterly loss of $0.11 per share—better than the $0.20 loss analysts expected. Relmada is developing CNS therapies, including lead depression candidate REL-1017.

Walleye Capital LLC acquired a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 616,238 shares of the company's stock, valued at approximately $4,264,000. Walleye Capital LLC owned about 0.59% of Relmada Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RLMD. Janus Henderson Group PLC increased its holdings in shares of Relmada Therapeutics by 52.2% during the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company's stock worth $76,892,000 after buying an additional 3,793,862 shares in the last quarter. ADAR1 Capital Management LLC boosted its holdings in shares of Relmada Therapeutics by 1,364.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 451,918 shares of the company's stock valued at $3,145,000 after acquiring an additional 421,052 shares in the last quarter. Commodore Capital LP acquired a new stake in shares of Relmada Therapeutics during the 1st quarter valued at $4,412,000. Seven Fleet Capital Management LP bought a new stake in Relmada Therapeutics during the 4th quarter worth $744,000. Finally, Orbimed Advisors LLC grew its position in Relmada Therapeutics by 80.6% during the 1st quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company's stock worth $32,822,000 after acquiring an additional 2,105,264 shares during the last quarter. Institutional investors and hedge funds own 45.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on RLMD. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. HC Wainwright started coverage on Relmada Therapeutics in a report on Thursday, June 18th. They set a "buy" rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Relmada Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $4.80 on Friday. The firm has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $5.96. The stock has a market cap of $512.02 million, a P/E ratio of -5.33 and a beta of 0.46. Relmada Therapeutics, Inc. has a 52-week low of $0.59 and a 52-week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates 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.

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