Relmada Therapeutics (NASDAQ:RLMD) Trading Up 44.5% – Still a Buy?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was up 44.5% on Monday . The stock traded as high as $1.19 and last traded at $1.12. Approximately 16,684,619 shares changed hands during trading, an increase of 1,440% from the average daily volume of 1,083,423 shares. The stock had previously closed at $0.78.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Relmada Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Relmada Therapeutics presently has a consensus rating of “Hold” and an average target price of $5.00.

Relmada Therapeutics Stock Performance

The company has a market capitalization of $37.17 million, a P/E ratio of -0.50 and a beta of 0.73. The firm’s fifty day moving average is $0.64 and its 200-day moving average is $0.50.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, analysts expect that Relmada Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. LMR Partners LLP bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $33,000. Jane Street Group LLC bought a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $69,000. AdvisorShares Investments LLC grew its holdings in Relmada Therapeutics by 43.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock worth $238,000 after acquiring an additional 120,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the 1st quarter worth approximately $33,000. 45.24% of the stock is owned by institutional investors.

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.