State Street Corp Increases Stock Holdings in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

State Street Corp boosted its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 310,164 shares of the company’s stock after acquiring an additional 19,579 shares during the quarter. State Street Corp owned 1.78% of Relmada Therapeutics worth $9,928,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. RTW Investments LP boosted its holdings in Relmada Therapeutics by 0.5% during the 2nd quarter. RTW Investments LP now owns 1,538,026 shares of the company’s stock valued at $49,232,000 after acquiring an additional 7,309 shares during the period. VR Adviser LLC lifted its stake in Relmada Therapeutics by 62.6% in the second quarter. VR Adviser LLC now owns 1,387,720 shares of the company’s stock worth $44,421,000 after acquiring an additional 534,514 shares during the period. Franklin Resources Inc. grew its holdings in Relmada Therapeutics by 8.0% during the 2nd quarter. Franklin Resources Inc. now owns 243,007 shares of the company’s stock worth $7,779,000 after acquiring an additional 18,000 shares in the last quarter. Knott David M increased its position in Relmada Therapeutics by 100.0% during the 2nd quarter. Knott David M now owns 6,000 shares of the company’s stock valued at $192,000 after purchasing an additional 3,000 shares during the period. Finally, Geode Capital Management LLC increased its position in Relmada Therapeutics by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 244,332 shares of the company’s stock valued at $7,821,000 after purchasing an additional 5,060 shares during the period. Institutional investors own 56.99% of the company’s stock.

A number of research analysts have commented on the stock. Mizuho assumed coverage on shares of Relmada Therapeutics in a research report on Wednesday, November 17th. They set a “buy” rating and a $50.00 target price on the stock. Zacks Investment Research downgraded shares of Relmada Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, November 17th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.71.

Shares of Relmada Therapeutics stock opened at $19.55 on Thursday. The stock has a 50 day moving average price of $25.08. Relmada Therapeutics, Inc. has a 52-week low of $18.51 and a 52-week high of $40.00. The stock has a market cap of $342.73 million, a P/E ratio of -2.95 and a beta of 0.07.

Relmada Therapeutics (NASDAQ:RLMD) last released its earnings results on Thursday, November 11th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of ($1.62) by ($0.82). As a group, analysts predict that Relmada Therapeutics, Inc. will post -6.08 earnings per share for the current year.

In related news, Director Charles J. Casamento sold 6,600 shares of the business’s stock in a transaction on Wednesday, September 22nd. The shares were sold at an average price of $29.00, for a total value of $191,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 11.00% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biotechnology company. It focuses on the development of esmethadone (d-methadone, dextromethadone, REL-1017), an N-methyl-D-aspartate (NMDA) receptor antagonist, which is a New Chemical Entity (NCE) that potentially addresses areas of high unmet medical need in the treatment of central nervous system (CNS) diseases and other disorders.

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Institutional Ownership by Quarter for Relmada Therapeutics (NASDAQ:RLMD)

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