State Board of Administration of Florida Retirement System Invests $486,000 in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

State Board of Administration of Florida Retirement System acquired a new position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMDGet Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,610 shares of the company’s stock, valued at approximately $486,000.

Several other large investors also recently modified their holdings of the company. RTW Investments LP increased its position in shares of Relmada Therapeutics by 16.2% during the first quarter. RTW Investments LP now owns 2,540,074 shares of the company’s stock worth $68,557,000 after buying an additional 353,750 shares during the period. BlackRock Inc. grew its holdings in Relmada Therapeutics by 41.0% in the first quarter. BlackRock Inc. now owns 1,952,808 shares of the company’s stock worth $52,707,000 after purchasing an additional 567,573 shares during the period. Vanguard Group Inc. grew its holdings in Relmada Therapeutics by 8.1% in the first quarter. Vanguard Group Inc. now owns 1,324,014 shares of the company’s stock worth $35,736,000 after purchasing an additional 99,113 shares during the period. Great Point Partners LLC grew its holdings in Relmada Therapeutics by 10.1% in the first quarter. Great Point Partners LLC now owns 790,000 shares of the company’s stock worth $21,322,000 after purchasing an additional 72,680 shares during the period. Finally, State Street Corp grew its holdings in Relmada Therapeutics by 37.8% in the first quarter. State Street Corp now owns 445,564 shares of the company’s stock worth $12,026,000 after purchasing an additional 122,163 shares during the period. 82.03% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Price Performance

Shares of NASDAQ RLMD opened at $5.94 on Friday. The stock has a market capitalization of $178.79 million, a P/E ratio of -1.02 and a beta of 0.06. The company has a 50-day moving average price of $18.83 and a 200-day moving average price of $21.52. Relmada Therapeutics, Inc. has a 1 year low of $5.62 and a 1 year high of $38.68.

Analysts Set New Price Targets

RLMD has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Relmada Therapeutics to $7.00 in a report on Wednesday. Oppenheimer upgraded shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating in a report on Monday, November 14th. Mizuho reduced their price target on shares of Relmada Therapeutics to $34.00 in a report on Wednesday. The Goldman Sachs Group cut shares of Relmada Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $81.00 to $8.00 in a report on Friday, October 14th. Finally, Jefferies Financial Group cut shares of Relmada Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.33.

About Relmada Therapeutics

(Get Rating)

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system (CNS) diseases and other disorders. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a new chemical entity and N-methyl-D-aspartate receptor antagonist that is in Phase 3 clinical trials for the adjunctive or monotherapy treatment of major depressive disorder in adults.

Featured Articles

Want to see what other hedge funds are holding RLMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Relmada Therapeutics, Inc. (NASDAQ:RLMDGet Rating).

Institutional Ownership by Quarter for Relmada Therapeutics (NASDAQ:RLMD)

Receive News & Ratings for Relmada Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Relmada Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.