AdvisorShares Investments LLC Raises Stock Position in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

AdvisorShares Investments LLC boosted its position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 28.5% in the second quarter, HoldingsChannel reports. The fund owned 90,028 shares of the company’s stock after purchasing an additional 19,975 shares during the quarter. AdvisorShares Investments LLC’s holdings in Relmada Therapeutics were worth $276,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RLMD. Opaleye Management Inc. lifted its holdings in shares of Relmada Therapeutics by 2,823.3% during the 4th quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock valued at $3,631,000 after purchasing an additional 847,000 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in Relmada Therapeutics during the 1st quarter valued at about $70,000. Vestal Point Capital LP acquired a new position in Relmada Therapeutics during the 4th quarter valued at about $476,000. SG Americas Securities LLC purchased a new stake in Relmada Therapeutics in the first quarter valued at about $53,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Relmada Therapeutics in the fourth quarter worth about $243,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Stock Up 7.5 %

NASDAQ RLMD opened at $3.02 on Thursday. Relmada Therapeutics, Inc. has a 12-month low of $1.88 and a 12-month high of $7.22. The company has a fifty day simple moving average of $3.21 and a two-hundred day simple moving average of $3.79.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.24. During the same period in the previous year, the company posted ($0.84) EPS. On average, research analysts expect that Relmada Therapeutics, Inc. will post -2.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group downgraded shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.00 to $2.00 in a report on Wednesday, June 5th.

Insider Buying and Selling

In other Relmada Therapeutics news, CFO Maged Shenouda purchased 24,120 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $2.95 per share, for a total transaction of $71,154.00. Following the acquisition, the chief financial officer now owns 88,335 shares in the company, valued at $260,588.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Charles J. Casamento acquired 13,000 shares of Relmada Therapeutics stock in a transaction on Monday, September 9th. The stock was acquired at an average price of $2.56 per share, for a total transaction of $33,280.00. Following the purchase, the director now owns 13,000 shares of the company’s stock, valued at approximately $33,280. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Maged Shenouda bought 24,120 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $2.95 per share, for a total transaction of $71,154.00. Following the purchase, the chief financial officer now directly owns 88,335 shares of the company’s stock, valued at $260,588.25. The disclosure for this purchase can be found here. Insiders bought 152,300 shares of company stock valued at $429,655 over the last quarter. 18.00% of the stock is currently owned by company insiders.

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.