Seven Fleet Capital Management LP Makes New Investment in Relmada Therapeutics, Inc. $RLMD

Seven Fleet Capital Management LP acquired a new stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 154,109 shares of the company’s stock, valued at approximately $744,000. Seven Fleet Capital Management LP owned about 0.21% of Relmada Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RLMD. XTX Topco Ltd acquired a new position in Relmada Therapeutics during the second quarter worth approximately $28,000. Goldman Sachs Group Inc. purchased a new stake in shares of Relmada Therapeutics during the 1st quarter valued at $33,000. LMR Partners LLP acquired a new stake in shares of Relmada Therapeutics during the 2nd quarter worth $33,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Relmada Therapeutics in the 4th quarter worth $64,000. Finally, Jane Street Group LLC acquired a new position in Relmada Therapeutics in the second quarter valued at $69,000. 45.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. HC Wainwright initiated coverage on Relmada Therapeutics in a research report on Thursday. They set a “buy” rating and a $12.00 price target for the company. Mizuho raised their price objective on Relmada Therapeutics from $10.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, March 20th. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Piper Sandler started coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They set an “overweight” rating and a $12.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Relmada Therapeutics Trading Up 2.0%

NASDAQ:RLMD opened at $6.73 on Friday. The firm’s fifty day simple moving average is $7.01 and its 200 day simple moving average is $5.53. Relmada Therapeutics, Inc. has a twelve month low of $0.52 and a twelve month high of $8.00. The firm has a market capitalization of $705.91 million, a price-to-earnings ratio of -6.17 and a beta of 0.39.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results 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, analysts predict that Relmada Therapeutics, Inc. will post -0.75 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.