Deutsche Bank AG Buys New Position in Relmada Therapeutics, Inc. $RLMD

Key Points

• Deutsche Bank acquired 318,902 shares of Relmada Therapeutics in the second quarter, worth approximately $2.21 million and representing a 0.30% stake. Institutional investors collectively own 45.24% of RLMD.
• Analyst sentiment is generally favorable, with a consensus rating of “Moderate Buy” and an average price target of $12.00, despite one sell rating.
• RLMD opened at $4.52, well below its 50-day and 200-day moving averages of $5.56 and $6.03. The company beat quarterly EPS estimates, reporting a loss of $0.11 per share versus the expected loss of $0.20.

Deutsche Bank AG purchased a new position in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 318,902 shares of the company's stock, valued at approximately $2,207,000. Deutsche Bank AG owned 0.30% of Relmada Therapeutics as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RLMD. XTX Topco Ltd purchased a new stake in shares of Relmada Therapeutics in the 2nd quarter worth about $28,000. Goldman Sachs Group Inc. purchased a new position in shares of Relmada Therapeutics during the first quarter valued at about $33,000. LMR Partners LLP purchased a new stake in Relmada Therapeutics in the second quarter worth about $33,000. Schonfeld Strategic Advisors LLC bought a new stake in Relmada Therapeutics during the 4th quarter valued at approximately $64,000. Finally, Jane Street Group LLC purchased a new position in shares of Relmada Therapeutics during the 2nd quarter worth approximately $69,000. Institutional investors own 45.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Relmada Therapeutics in a research note 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 price target on the stock. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Relmada Therapeutics Stock Down 0.7%

Shares of RLMD opened at $4.52 on Friday. The stock has a market cap of $482.15 million, a P/E ratio of -5.02 and a beta of 0.46. The business's 50 day moving average price is $5.56 and its 200-day moving average price is $6.03. Relmada Therapeutics, Inc. has a 52 week low of $0.63 and a 52 week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.20) by $0.09. On average, equities analysts anticipate that Relmada Therapeutics, Inc. will post -0.6 EPS for the current 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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