Relmada Therapeutics (NASDAQ:RLMD) Shares Down 9.9% – Should You Sell?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was down 9.9% on Monday . The stock traded as low as $6.25 and last traded at $6.2160. Approximately 1,582,384 shares were traded during trading, an increase of 11% from the average daily volume of 1,422,374 shares. The stock had previously closed at $6.90.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RLMD shares. Mizuho upped their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Wednesday, January 28th. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a report on Monday, March 2nd. Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Friday, January 23rd. Finally, Piper Sandler started coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Stock Down 8.1%

The stock has a market cap of $665.00 million, a PE ratio of -5.82 and a beta of 0.43. The firm has a fifty day moving average of $6.83 and a 200 day moving average of $4.98.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). On average, equities research analysts forecast that Relmada Therapeutics, Inc. will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

Several large investors have recently bought and sold shares of RLMD. Goldman Sachs Group Inc. acquired a new position in Relmada Therapeutics in the first quarter valued at $33,000. XTX Topco Ltd acquired a new position in Relmada Therapeutics in the second quarter valued at $28,000. Marshall Wace LLP acquired a new position in Relmada Therapeutics in the second quarter valued at $93,000. Jane Street Group LLC acquired a new position in Relmada Therapeutics in the second quarter valued at $69,000. Finally, LMR Partners LLP acquired a new position in Relmada Therapeutics in the second quarter valued at $33,000. 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.