Relmada Therapeutics (NASDAQ:RLMD) Rating Lowered to Hold at Mizuho

Relmada Therapeutics (NASDAQ:RLMD) was downgraded by research analysts at Mizuho from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on RLMD. Leerink Partnrs downgraded shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Leerink Partners reiterated a “market perform” rating and set a $1.00 target price (down previously from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday. Finally, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $3.50 to $13.00 in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Price Performance

NASDAQ:RLMD opened at $0.45 on Wednesday. The firm has a market cap of $13.58 million, a price-to-earnings ratio of -0.16 and a beta of 0.35. The firm’s fifty day moving average price is $3.23 and its 200 day moving average price is $3.19. Relmada Therapeutics has a 1-year low of $0.44 and a 1-year high of $7.22.

Insiders Place Their Bets

In other news, Director Charles J. Casamento bought 13,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $33,280.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sergio Traversa acquired 51,407 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average cost of $2.99 per share, for a total transaction of $153,706.93. Following the completion of the purchase, the chief executive officer now owns 384,024 shares in the company, valued at $1,148,231.76. The trade was a 15.46 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 152,300 shares of company stock worth $429,655. 18.00% of the stock is owned by company insiders.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its position 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 worth $3,577,000 after purchasing an additional 12,147 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Relmada Therapeutics by 28.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock worth $276,000 after purchasing an additional 19,975 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Relmada Therapeutics by 14.6% during the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after buying an additional 4,027 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Relmada Therapeutics by 153.6% in the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after buying an additional 53,767 shares during the last quarter. Finally, FMR LLC raised its position in shares of Relmada Therapeutics by 29.0% in the third 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 last quarter. 45.24% of the stock is currently owned by hedge funds and other 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.