Janus Henderson Group PLC Increases Position in Relmada Therapeutics, Inc. $RLMD

Key Points

• Janus Henderson Group increased its Relmada Therapeutics stake by 52.2% in the first quarter, adding 3.79 million shares to own 11.06 million shares, or 10.55% of the company. Institutional investors collectively hold 45.24% of RLMD.
• Analyst sentiment is broadly positive, with one Strong Buy, five Buy, one Hold and one Sell rating; the stock has an average “Moderate Buy” rating and a $12.00 price target.
• RLMD opened at $5.31, while Relmada reported a quarterly loss of $0.22 per share, missing estimates by $0.04. The clinical-stage biopharmaceutical company is developing REL-1017 for major depressive disorder and other central nervous system conditions.

Janus Henderson Group PLC lifted its position in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) by 52.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,063,862 shares of the company's stock after purchasing an additional 3,793,862 shares during the quarter. Janus Henderson Group PLC owned 10.55% of Relmada Therapeutics worth $76,892,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Relmada Therapeutics during the second quarter valued at approximately $28,000. LMR Partners LLP bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at about $33,000. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the 1st quarter valued at approximately $33,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics during the fourth quarter valued at approximately $64,000. Finally, Jane Street Group LLC purchased a new stake in shares of Relmada Therapeutics in the 2nd quarter worth about $69,000. Hedge funds and other institutional investors own 45.24% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright began coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They set a "buy" rating and a $12.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Relmada Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Stock Down 0.7%

RLMD stock opened at $5.31 on Friday. The stock has a market cap of $556.97 million, a P/E ratio of -4.87 and a beta of 0.41. Relmada Therapeutics, Inc. has a twelve month low of $0.55 and a twelve month high of $8.00. The business's 50-day moving average price is $6.24 and its 200-day moving average price is $5.89.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last announced 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). On average, equities research analysts expect that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Relmada Therapeutics Company 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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