Walleye Capital LLC Invests $4.26 Million in Relmada Therapeutics, Inc. $RLMD

Walleye Capital LLC acquired a new position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 616,238 shares of the company’s stock, valued at approximately $4,264,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. LMR Partners LLP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter worth approximately $33,000. Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics in the 1st quarter valued at $33,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter valued at $64,000. Finally, Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics during the second quarter worth $69,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Wall Street Analyst Weigh In

RLMD has been the subject of a number of analyst reports. Weiss Ratings reissued 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 research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target on the stock. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Relmada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $4.80 on Friday. The stock has a market capitalization of $512.02 million, a P/E ratio of -5.33 and a beta of 0.46. The business has a 50 day simple moving average of $5.88 and a 200 day simple moving average of $5.96. Relmada Therapeutics, Inc. has a one year low of $0.59 and a one year high of $8.00.

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

Relmada Therapeutics Company 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.