Jupiter Topco LLC Invests $77.32 Million in Relmada Therapeutics, Inc. $RLMD

Key Points

• Jupiter Topco LLC acquired 11.16 million Relmada Therapeutics shares valued at approximately $77.3 million, giving it a 10.47% stake. Institutional investors and hedge funds collectively own 45.24% of the company.
• 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 opened at $4.52, well below its 52-week high of $8.00. Relmada reported a quarterly loss of $0.11 per share, beating the consensus estimate of a $0.20 loss, while its lead candidate REL-1017 continues clinical development for major depressive disorder.

Jupiter Topco LLC bought a new stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,164,803 shares of the company's stock, valued at approximately $77,316,000. Jupiter Topco LLC owned 10.47% of Relmada Therapeutics as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Relmada Therapeutics during the second quarter worth about $51,393,000. Janus Henderson Group PLC bought a new position in Relmada Therapeutics in the 4th quarter worth about $35,041,000. Squadron Capital Management LLC bought a new position in Relmada Therapeutics in the 4th quarter worth about $32,361,000. Spruce Street Capital LP acquired a new stake in shares of Relmada Therapeutics in the second quarter valued at approximately $44,227,990,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Relmada Therapeutics in the fourth quarter valued at approximately $20,624,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RLMD has been the topic of several analyst reports. HC Wainwright assumed coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They issued a "buy" rating and a $12.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.

Relmada Therapeutics Stock Performance

NASDAQ RLMD opened at $4.52 on Friday. Relmada Therapeutics, Inc. has a 1 year low of $0.63 and a 1 year high of $8.00. The business's fifty day moving average is $5.56 and its two-hundred day moving average is $6.03. The stock has a market capitalization of $482.15 million, a P/E ratio of -5.02 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. On average, research analysts forecast that Relmada Therapeutics, Inc. will post -0.6 earnings per share 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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