Seven Fleet Capital Management LP Takes $2.41 Million Position in Relmada Therapeutics, Inc. $RLMD

Seven Fleet Capital Management LP purchased a new position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 348,265 shares of the company’s stock, valued at approximately $2,410,000. Seven Fleet Capital Management LP owned 0.33% of Relmada Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Jupiter Topco LLC bought a new position in Relmada Therapeutics in the second quarter worth approximately $77,316,000. Janus Henderson Group PLC boosted its position in Relmada Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after acquiring an additional 3,793,862 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $51,393,000. Squadron Capital Management LLC purchased a new position in shares of Relmada Therapeutics in the 4th quarter valued at $32,361,000. Finally, Spruce Street Capital LP bought a new position in shares of Relmada Therapeutics in the 2nd quarter worth $44,227,990. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Trading Up 1.4%

NASDAQ RLMD opened at $4.43 on Friday. The firm’s fifty day simple moving average is $5.29 and its two-hundred day simple moving average is $6.03. Relmada Therapeutics, Inc. has a 12-month low of $1.30 and a 12-month high of $8.00. The firm has a market capitalization of $472.55 million, a P/E ratio of -4.92 and a beta of 0.45.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.09. As a group, sell-side analysts predict that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RLMD has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright started coverage on shares of Relmada Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Relmada Therapeutics 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.