231,123 Shares in Relmada Therapeutics, Inc. $RLMD Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd bought a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 231,123 shares of the company’s stock, valued at approximately $1,116,000. Persistent Asset Partners Ltd owned approximately 0.32% of Relmada Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RLMD. Goldman Sachs Group Inc. acquired a new stake in Relmada Therapeutics during the 1st quarter worth approximately $33,000. XTX Topco Ltd acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Marshall Wace LLP acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Jane Street Group LLC acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $69,000. Finally, LMR Partners LLP acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on RLMD. Lucid Cap Mkts raised shares of Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. 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. Finally, Piper Sandler assumed coverage on Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Trading Up 2.8%

Relmada Therapeutics stock opened at $6.55 on Wednesday. The stock has a market cap of $687.03 million, a P/E ratio of -6.01 and a beta of 0.39. The stock has a 50 day moving average of $7.01 and a 200-day moving average of $5.50. Relmada Therapeutics, Inc. has a 52 week low of $0.52 and a 52 week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last released its 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). As a group, equities analysts predict that Relmada Therapeutics, Inc. will post -0.75 earnings per share for the current fiscal 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.