Relmada Therapeutics (NASDAQ:RLMD) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs cut shares of Relmada Therapeutics (NASDAQ:RLMD) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently commented on RLMD. Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $3.50 to $13.00 in a report on Tuesday, September 17th. Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 price target (down from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday. Finally, Mizuho reissued a “neutral” rating and set a $1.00 target price (down from $23.00) on shares of Relmada Therapeutics in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Up 1.7 %

Relmada Therapeutics stock opened at $0.46 on Wednesday. The firm has a fifty day moving average of $3.17 and a 200-day moving average of $3.17. The firm has a market capitalization of $13.80 million, a P/E ratio of -0.16 and a beta of 0.35. Relmada Therapeutics has a 52-week low of $0.43 and a 52-week high of $7.22.

Insider Buying and Selling at Relmada Therapeutics

In related news, Director Charles J. Casamento bought 13,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was purchased at an average price of $2.56 per share, with a total value of $33,280.00. Following the completion of the transaction, the director now directly owns 13,000 shares of the company’s stock, valued at $33,280. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sergio Traversa bought 51,407 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $2.99 per share, for a total transaction of $153,706.93. Following the acquisition, the chief executive officer now directly owns 384,024 shares in the company, valued at approximately $1,148,231.76. This trade represents a 15.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 152,300 shares of company stock worth $429,655. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RLMD. American Century Companies Inc. grew its position in Relmada Therapeutics by 14.6% in the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock valued at $95,000 after acquiring an additional 4,027 shares during the period. HighTower Advisors LLC bought a new stake in Relmada Therapeutics during the third quarter worth about $32,000. Acadian Asset Management LLC increased its holdings in shares of Relmada Therapeutics by 1.0% during the second quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock worth $3,577,000 after buying an additional 12,147 shares in the last quarter. AdvisorShares Investments LLC raised its stake in shares of Relmada Therapeutics by 28.5% in the second quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock valued at $276,000 after acquiring an additional 19,975 shares during the last quarter. Finally, FMR LLC grew its position in Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after acquiring an additional 26,185 shares during the last quarter. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.