Geode Capital Management LLC Increases Stake in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Geode Capital Management LLC grew its position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 16.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 304,502 shares of the company’s stock after buying an additional 44,004 shares during the period. Geode Capital Management LLC owned approximately 1.01% of Relmada Therapeutics worth $987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in Relmada Therapeutics by 1.0% during the second quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock valued at $3,577,000 after purchasing an additional 12,147 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Relmada Therapeutics by 99.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after buying an additional 78,779 shares during the last quarter. FMR LLC lifted its holdings in shares of Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock valued at $378,000 after buying an additional 26,185 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Relmada Therapeutics by 153.6% in the 2nd quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after buying an additional 53,767 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Relmada Therapeutics by 14.6% in the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after acquiring an additional 4,027 shares during the period. 45.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RLMD. Mizuho reissued a “neutral” rating and issued a $1.00 target price (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Jefferies Financial Group raised shares of Relmada Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $3.50 to $13.00 in a report on Tuesday, September 17th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Finally, Leerink Partnrs cut Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.25.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $0.41 on Friday. The company has a market cap of $12.44 million, a P/E ratio of -0.14 and a beta of 0.51. The firm’s fifty day moving average is $1.59 and its two-hundred day moving average is $2.69. Relmada Therapeutics, Inc. has a 52-week low of $0.34 and a 52-week high of $7.22.

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.