Eversept Partners LP Invests $1.93 Million in Relmada Therapeutics, Inc. $RLMD

Eversept Partners LP bought a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 277,899 shares of the company’s stock, valued at approximately $1,934,000.

Several other institutional investors have also recently added to or reduced their stakes in RLMD. State of Wyoming acquired a new position in Relmada Therapeutics in the first quarter valued at about $88,000. Keebeck Wealth Management bought a new stake in Relmada Therapeutics during the first quarter worth about $90,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Relmada Therapeutics during the fourth quarter worth approximately $64,000. Virtu Financial LLC acquired a new stake in shares of Relmada Therapeutics during the fourth quarter worth approximately $85,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Relmada Therapeutics during the 4th quarter worth about $105,000. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Trading Up 0.4%

Shares of Relmada Therapeutics stock opened at $5.20 on Tuesday. The company has a market capitalization of $545.43 million, a PE ratio of -4.77 and a beta of 0.41. Relmada Therapeutics, Inc. has a 12 month low of $0.55 and a 12 month high of $8.00. The stock’s fifty day simple moving average is $6.39 and its 200 day simple moving average is $5.87.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RLMD. HC Wainwright started coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Relmada Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.