Geode Capital Management LLC Acquires 44,004 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Geode Capital Management LLC raised its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 304,502 shares of the company’s stock after purchasing an additional 44,004 shares during the quarter. Geode Capital Management LLC’s holdings in Relmada Therapeutics were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RLMD. HighTower Advisors LLC purchased a new position in shares of Relmada Therapeutics during the third quarter valued at approximately $32,000. American Century Companies Inc. increased its stake in 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 purchasing an additional 4,027 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Relmada Therapeutics by 153.6% during the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after purchasing an additional 53,767 shares during the period. FMR LLC increased its stake in Relmada Therapeutics by 29.0% in the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after buying an additional 26,185 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings 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 in the last quarter. 45.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RLMD has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded shares of Relmada Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $3.50 to $13.00 in a research note on Tuesday, September 17th. Leerink Partners reiterated 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. Mizuho reissued a “neutral” rating and set a $1.00 price objective (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Finally, Leerink Partnrs lowered Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Performance

NASDAQ:RLMD opened at $0.41 on Friday. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $2.69. Relmada Therapeutics, Inc. has a fifty-two week low of $0.34 and a fifty-two week high of $7.22. The stock has a market capitalization of $12.44 million, a P/E ratio of -0.14 and a beta of 0.51.

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.