Two Sigma Advisers LP Reduces Holdings in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Two Sigma Advisers LP lowered its position in Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 18.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 198,900 shares of the company’s stock after selling 43,600 shares during the quarter. Two Sigma Advisers LP owned about 0.66% of Relmada Therapeutics worth $103,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RLMD. Renaissance Technologies LLC boosted its position in Relmada Therapeutics by 535.5% during the fourth quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock worth $86,000 after purchasing an additional 138,625 shares during the period. Tang Capital Management LLC lifted its stake in shares of Relmada Therapeutics by 295.1% during the 4th quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after buying an additional 150,000 shares in the last quarter. Finally, AdvisorShares Investments LLC boosted its holdings in Relmada Therapeutics by 206.5% in the 4th quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock worth $109,000 after buying an additional 141,540 shares during the period. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Relmada Therapeutics to a “strong sell” rating in a research note on Saturday, May 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.00.

Relmada Therapeutics Trading Up 1.8%

Shares of RLMD opened at $0.83 on Monday. Relmada Therapeutics, Inc. has a 12-month low of $0.24 and a 12-month high of $4.47. The company has a market cap of $27.71 million, a PE ratio of -0.29 and a beta of 0.65. The stock has a 50-day moving average price of $0.46 and a 200-day moving average price of $0.53.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.27). As a group, analysts predict that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Insider Activity at Relmada Therapeutics

In related news, COO Paul Edward Kelly purchased 200,000 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were purchased at an average cost of $0.43 per share, with a total value of $86,000.00. Following the transaction, the chief operating officer now directly owns 412,295 shares in the company, valued at $177,286.85. This trade represents a 94.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Maged Shenouda acquired 60,000 shares of Relmada Therapeutics stock in a transaction on Tuesday, May 20th. The shares were purchased at an average price of $0.52 per share, with a total value of $31,200.00. Following the completion of the purchase, the chief financial officer now owns 288,335 shares in the company, valued at $149,934.20. This represents a 26.28% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 628,961 shares of company stock worth $286,332 in the last 90 days. Company insiders own 20.70% of the company’s stock.

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.