Relmada Therapeutics, Inc. $RLMD Stock: Profund Advisors LLC Grows Stake

Profund Advisors LLC increased its stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 615.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 195,555 shares of the company’s stock after buying an additional 168,229 shares during the quarter. Profund Advisors LLC’s holdings in Relmada Therapeutics were worth $737,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of RLMD. AXQ Capital LP bought a new stake in shares of Relmada Therapeutics in the second quarter worth $84,000. Wellington Management Group LLP bought a new stake in Relmada Therapeutics in the second quarter worth about $441,000. Seven Fleet Capital Management LP purchased a new stake in Relmada Therapeutics in the second quarter valued at approximately $2,410,000. Corient Private Wealth LP purchased a new stake in Relmada Therapeutics in the second quarter worth approximately $4,933,000. Finally, Bank of America Corp DE bought a new position in Relmada Therapeutics during the 2nd quarter worth approximately $5,619,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Relmada Therapeutics Stock Down 2.3%

Shares of NASDAQ RLMD opened at $4.17 on Thursday. The firm has a market cap of $444.81 million, a P/E ratio of -4.63 and a beta of 0.62. The business’s 50 day moving average price is $3.81 and its 200 day moving average price is $5.32. Relmada Therapeutics, Inc. has a 52 week low of $2.42 and a 52 week high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last announced its earnings results on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. As a group, research analysts expect that Relmada Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Relmada Therapeutics

In related news, CFO Maged Shenouda acquired 79,800 shares of Relmada Therapeutics stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $4.25 per share, for a total transaction of $339,150.00. Following the completion of the purchase, the chief financial officer owned 1,000,000 shares in the company, valued at approximately $4,250,000. The trade was a 8.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.50% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders. The company’s research has primarily targeted conditions with significant unmet medical needs, including major depressive disorder and other neuropsychiatric diseases.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is designed to modulate the N-methyl-D-aspartate (NMDA) receptor and has been studied as a potential adjunctive treatment for major depressive disorder in patients who do not respond adequately to standard antidepressants.