Weiss Ratings Reiterates Sell (D-) Rating for Relmada Therapeutics (NASDAQ:RLMD)

Relmada Therapeutics (NASDAQ:RLMD)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised Relmada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Relmada Therapeutics currently has an average rating of “Reduce” and a consensus price target of $1.00.

Relmada Therapeutics Stock Up 7.0%

Shares of Relmada Therapeutics stock opened at $2.13 on Wednesday. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $3.98. The business has a fifty day simple moving average of $1.25 and a 200 day simple moving average of $0.77. The stock has a market cap of $70.69 million, a PE ratio of -0.96 and a beta of 0.91.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Analysts expect that Relmada Therapeutics will post -2.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Relmada Therapeutics during the second quarter worth about $28,000. LMR Partners LLP bought a new position in Relmada Therapeutics during the second quarter worth about $33,000. Jane Street Group LLC bought a new position in Relmada Therapeutics during the second quarter worth about $69,000. AdvisorShares Investments LLC lifted its holdings in Relmada Therapeutics by 43.4% during the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock worth $238,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics in the first quarter valued at about $33,000. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.