Corient Private Wealth LLC Raises Holdings in Relmada Therapeutics, Inc. $RLMD

Corient Private Wealth LLC grew its stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 248.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 719,582 shares of the company’s stock after acquiring an additional 512,915 shares during the quarter. Corient Private Wealth LLC owned about 0.98% of Relmada Therapeutics worth $3,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RLMD. Janus Henderson Group PLC purchased a new stake in Relmada Therapeutics during the 4th quarter worth approximately $35,041,000. Squadron Capital Management LLC purchased a new stake in shares of Relmada Therapeutics during the fourth quarter valued at $32,361,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Relmada Therapeutics during the fourth quarter valued at $20,624,000. Spruce Street Capital LP acquired a new position in shares of Relmada Therapeutics in the 4th quarter valued at $19,736,000. Finally, Marshall Wace LLP increased its position 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 acquiring an additional 2,917,609 shares during the period. 45.24% of the stock is owned by hedge funds and other institutional investors.

Relmada Therapeutics Stock Performance

NASDAQ:RLMD opened at $6.69 on Friday. The firm’s fifty day moving average is $6.93 and its two-hundred day moving average is $5.63. The firm has a market cap of $701.71 million, a price-to-earnings ratio of -6.14 and a beta of 0.39. Relmada Therapeutics, Inc. has a one year low of $0.55 and a one year high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Tuesday, May 12th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). As a group, equities research analysts predict that Relmada Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Mizuho boosted their price target on Relmada Therapeutics from $10.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, March 20th. HC Wainwright started coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. Lucid Cap Mkts upgraded Relmada Therapeutics to a “strong-buy” rating in a research report on Monday, March 2nd. Finally, Piper Sandler began coverage on shares of Relmada Therapeutics in a report on Tuesday, March 24th. They issued an “overweight” rating and a $12.00 price target on the stock. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.