Relmada Therapeutics’ (RLMD) “Neutral” Rating Reiterated at Mizuho

Mizuho reiterated their neutral rating on shares of Relmada Therapeutics (NASDAQ:RLMD) in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has a $1.00 target price on the stock, down from their previous target price of $23.00.

Separately, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.50 to $13.00 in a research report on Tuesday, September 17th. One 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 company’s stock. Based on data from MarketBeat, Relmada Therapeutics has a consensus rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Up 1.7 %

NASDAQ:RLMD opened at $0.46 on Thursday. The stock’s 50 day moving average price is $3.12 and its two-hundred day moving average price is $3.15. Relmada Therapeutics has a 12-month low of $0.43 and a 12-month high of $7.22. The firm has a market capitalization of $13.80 million, a price-to-earnings ratio of -0.16 and a beta of 0.35.

Insider Activity

In other news, CEO Sergio Traversa bought 55,579 shares of Relmada Therapeutics stock in a transaction dated Monday, September 9th. The stock was bought at an average cost of $2.71 per share, for a total transaction of $150,619.09. Following the purchase, the chief executive officer now directly owns 299,603 shares in the company, valued at approximately $811,924.13. This represents a 22.78 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles J. Casamento bought 13,000 shares of Relmada Therapeutics stock in a transaction dated 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 purchase, the director now owns 13,000 shares in the company, valued at $33,280. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 152,300 shares of company stock worth $429,655 in the last three months. Company insiders own 18.00% of the company’s stock.

Institutional Trading of Relmada Therapeutics

Several large investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of Relmada Therapeutics by 28.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock valued at $4,362,000 after buying an additional 289,490 shares during the period. Acadian Asset Management LLC boosted its stake in Relmada Therapeutics by 1.0% during the 2nd 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 last quarter. Geode Capital Management LLC boosted its stake in Relmada Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock valued at $987,000 after purchasing an additional 44,004 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted 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 purchasing an additional 78,779 shares during the last quarter. Finally, FMR LLC boosted its stake in 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 purchasing an additional 26,185 shares during the last quarter. 45.24% of the stock is currently owned by institutional investors and hedge funds.

About Relmada Therapeutics

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.