Corient Private Wealth LLC Increases Stock Position in Relmada Therapeutics, Inc. $RLMD

Corient Private Wealth LLC boosted its position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 248.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 719,582 shares of the company’s stock after acquiring an additional 512,915 shares during the period. Corient Private Wealth LLC’s holdings in Relmada Therapeutics were worth $3,443,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RLMD. Janus Henderson Group PLC acquired a new position in shares of Relmada Therapeutics in the fourth quarter worth about $35,041,000. Squadron Capital Management LLC purchased a new stake in shares of Relmada Therapeutics during the 4th quarter worth about $32,361,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Relmada Therapeutics during the 4th quarter valued at about $20,624,000. Spruce Street Capital LP acquired a new stake in shares of Relmada Therapeutics during the 4th quarter valued at about $19,736,000. Finally, Marshall Wace LLP increased its stake in shares of Relmada Therapeutics by 1,072.4% in the 4th quarter. Marshall Wace LLP now owns 3,189,662 shares of the company’s stock valued at $15,406,000 after purchasing an additional 2,917,609 shares in the last quarter. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently 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. HC Wainwright initiated coverage on Relmada Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Piper Sandler began coverage on Relmada Therapeutics in a research report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price objective for the company. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Relmada Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Stock Up 3.7%

RLMD stock opened at $6.69 on Friday. Relmada Therapeutics, Inc. has a 52 week low of $0.55 and a 52 week high of $8.00. The firm has a 50-day simple moving average of $6.93 and a 200-day simple moving average of $5.63. The stock has a market capitalization of $701.71 million, a P/E ratio of -6.14 and a beta of 0.39.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). On average, analysts expect that Relmada Therapeutics, Inc. will post -0.82 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.