Relmada Therapeutics, Inc. $RLMD Stock Holdings Increased by Orbimed Advisors LLC

Key Points

• Orbimed Advisors increased its Relmada Therapeutics stake by 80.6% in the first quarter, adding 2.1 million shares to own 4.72 million shares, or approximately 4.5% of the company. Institutional investors collectively hold 45.24% of RLMD.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $12.00, although ratings range from Strong Buy to Sell. HC Wainwright recently initiated coverage with a Buy rating.
• Relmada shares opened at $5.18, while the company reported a quarterly loss of $0.22 per share, missing the $0.18 consensus estimate. The clinical-stage biotech is developing REL-1017 for major depressive disorder and other central nervous system conditions.

Orbimed Advisors LLC boosted its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) by 80.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,715,864 shares of the company's stock after purchasing an additional 2,105,264 shares during the period. Orbimed Advisors LLC owned approximately 4.50% of Relmada Therapeutics worth $32,822,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP acquired a new position in Relmada Therapeutics in the fourth quarter worth approximately $744,000. Persistent Asset Partners Ltd acquired a new stake in shares of Relmada Therapeutics during the 4th quarter valued at $1,116,000. Knott David M Jr bought a new stake in shares of Relmada Therapeutics during the 1st quarter worth $3,058,000. Spruce Street Capital LP bought a new stake in shares of Relmada Therapeutics during the 4th quarter worth $19,736,000. Finally, Corient Private Wealth LLC boosted its stake in shares of Relmada Therapeutics by 248.2% during the 4th quarter. Corient Private Wealth LLC now owns 719,582 shares of the company's stock worth $3,443,000 after acquiring an additional 512,915 shares in the last quarter. 45.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. HC Wainwright initiated coverage on Relmada Therapeutics in a research report on Thursday, June 18th. They set a "buy" rating and a $12.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One research 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 company's stock. Based on data from MarketBeat.com, Relmada Therapeutics has an average rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Price Performance

Relmada Therapeutics stock opened at $5.18 on Monday. Relmada Therapeutics, Inc. has a fifty-two week low of $0.55 and a fifty-two week high of $8.00. The firm's 50 day simple moving average is $6.41 and its 200-day simple moving average is $5.86. The company has a market cap of $543.33 million, a P/E ratio of -4.75 and a beta of 0.41.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, analysts expect that Relmada Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Relmada Therapeutics 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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