ADAR1 Capital Management LLC increased its holdings in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) by 1,364.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 451,918 shares of the company's stock after acquiring an additional 421,052 shares during the period. ADAR1 Capital Management LLC owned approximately 0.43% of Relmada Therapeutics worth $3,145,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC acquired a new position in shares of Relmada Therapeutics in the 4th quarter valued at $35,041,000. Squadron Capital Management LLC purchased a new stake in Relmada Therapeutics in the 4th quarter valued at about $32,361,000. Adage Capital Partners GP L.L.C. purchased a new stake in Relmada Therapeutics in the 4th quarter valued at about $20,624,000. Spruce Street Capital LP acquired a new position in Relmada Therapeutics in the fourth quarter valued at about $19,736,000. Finally, Marshall Wace LLP lifted its position 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 valued at $15,406,000 after buying an additional 2,917,609 shares during the last quarter. 45.24% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of Relmada Therapeutics in a research note on Thursday, June 18th. They issued a "buy" rating and a $12.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One investment 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.00.
Check Out Our Latest Stock Report on Relmada Therapeutics
Relmada Therapeutics Price Performance
NASDAQ RLMD opened at $5.23 on Wednesday. The company has a market cap of $548.57 million, a P/E ratio of -4.80 and a beta of 0.41. The stock has a 50-day moving average of $6.35 and a two-hundred day moving average of $5.88. Relmada Therapeutics, Inc. has a 1-year low of $0.55 and a 1-year high of $8.00.
Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last released 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). On average, analysts anticipate that Relmada Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.
Relmada Therapeutics Company Profile
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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.
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