Relmada Therapeutics (NASDAQ:RLMD) Stock Price Down 6.8% - Time to Sell?

Key Points

• Relmada Therapeutics shares fell 6.8% to about $5.00 in Friday trading, with volume below its daily average. The stock remains below both its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $12.00, though Weiss Ratings maintains a “sell” assessment.
• The company exceeded quarterly EPS expectations, reporting a loss of $0.11 per share versus the projected $0.20 loss. Institutional investors own 45.24% of the stock, while Relmada continues developing REL-1017 for major depressive disorder and other CNS conditions.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report)'s stock price fell 6.8% during trading on Friday . The company traded as low as $4.97 and last traded at $5.0040. Approximately 1,056,702 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 1,554,860 shares. The stock had previously closed at $5.37.

Wall Street Analysts Forecast Growth

RLMD has been the topic of several recent analyst reports. HC Wainwright started 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 reaffirmed a "sell (d-)" rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Stock Down 7.0%

The company has a 50 day simple moving average of $6.10 and a 200 day simple moving average of $5.94. The company has a market capitalization of $523.93 million, a price-to-earnings ratio of -4.59 and a beta of 0.46.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.09. On average, research analysts forecast that Relmada Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Relmada Therapeutics

Several large investors have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new stake in Relmada Therapeutics during the 4th quarter worth $35,041,000. Squadron Capital Management LLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter worth about $32,361,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Relmada Therapeutics during the fourth quarter worth about $20,624,000. Spruce Street Capital LP purchased a new stake in shares of Relmada Therapeutics in the fourth quarter worth about $19,736,000. Finally, Marshall Wace LLP boosted its position in shares of Relmada Therapeutics by 1,072.4% in the fourth quarter. Marshall Wace LLP now owns 3,189,662 shares of the company's stock worth $15,406,000 after buying an additional 2,917,609 shares during the period. Institutional investors and hedge funds own 45.24% of the company's stock.

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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