Eversept Partners LP Buys New Shares in Relmada Therapeutics, Inc. $RLMD

Key Points

• Eversept Partners LP acquired 277,899 shares of Relmada Therapeutics, valued at approximately $1.93 million, representing about 0.26% of the company. Institutional investors collectively own 45.24% of RLMD.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $12.00, although Weiss Ratings reaffirmed a “sell” rating.
• RLMD shares opened at $5.20, while Relmada reported a quarterly loss of $0.22 per share, missing the $0.18 consensus estimate. Analysts expect a full-year loss of $0.82 per share.

Eversept Partners LP bought a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 277,899 shares of the company's stock, valued at approximately $1,934,000. Eversept Partners LP owned approximately 0.26% of Relmada Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RLMD. XTX Topco Ltd acquired a new position in Relmada Therapeutics in the 2nd quarter valued at approximately $28,000. LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $33,000. Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics during the first quarter valued at approximately $33,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Relmada Therapeutics in the fourth quarter valued at $64,000. Finally, Jane Street Group LLC acquired a new position in shares of Relmada Therapeutics in the second quarter valued at $69,000. 45.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RLMD shares. 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 shares of Relmada Therapeutics in a report on Thursday, June 18th. They issued 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Stock Up 0.4%

Shares of RLMD opened at $5.20 on Tuesday. The company has a 50-day moving average price of $6.39 and a two-hundred day moving average price of $5.87. The stock has a market cap of $545.43 million, a price-to-earnings ratio of -4.77 and a beta of 0.41. Relmada Therapeutics, Inc. has a 12 month low of $0.55 and a 12 month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.04). Equities research analysts expect 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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