Recent Investment Analysts’ Ratings Changes for Relmada Therapeutics (RLMD)

A number of research firms have changed their ratings and price targets for Relmada Therapeutics (NASDAQ: RLMD):

• 12/5/2024 – Relmada Therapeutics had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $1.00 price target on the stock, down previously from $23.00.
• 12/4/2024 – Relmada Therapeutics had its “market perform” rating reaffirmed by analysts at Leerink Partners. They now have a $1.00 price target on the stock, down previously from $10.00.
• 12/4/2024 – Relmada Therapeutics was downgraded by analysts at Mizuho from a “strong-buy” rating to a “hold” rating. They now have a $1.00 price target on the stock, down previously from $23.00.
• 12/4/2024 – Relmada Therapeutics was downgraded by analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating.

Relmada Therapeutics Stock Performance

Shares of RLMD traded down $0.02 during mid-day trading on Tuesday, reaching $0.36. 488,925 shares of the company were exchanged, compared to its average volume of 343,098. The business has a 50 day simple moving average of $2.46 and a two-hundred day simple moving average of $2.95. Relmada Therapeutics, Inc. has a 52 week low of $0.34 and a 52 week high of $7.22. The stock has a market capitalization of $10.71 million, a PE ratio of -0.12 and a beta of 0.35.

Hedge Funds Weigh In On Relmada Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of Relmada Therapeutics by 28.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after purchasing an additional 289,490 shares during the period. Geode Capital Management LLC lifted its stake in Relmada Therapeutics by 16.9% in the third 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. increased its position in Relmada Therapeutics by 99.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock worth $511,000 after buying an additional 78,779 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of Relmada Therapeutics in the third quarter valued at $32,000. Finally, FMR LLC grew its stake in shares of Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after acquiring an additional 26,185 shares during the period. Institutional investors own 45.24% of the company’s stock.

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.