Parsons Capital Management Inc. RI Decreases Position in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Parsons Capital Management Inc. RI trimmed its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 83.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 163,336 shares of the company’s stock after selling 839,359 shares during the period. Parsons Capital Management Inc. RI’s holdings in Relmada Therapeutics were worth $85,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Relmada Therapeutics by 14.6% in the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after acquiring an additional 4,027 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Relmada Therapeutics by 153.6% in the 2nd quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after purchasing an additional 53,767 shares in the last quarter. FMR LLC boosted its stake in Relmada Therapeutics by 29.0% in the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after purchasing an additional 26,185 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Relmada Therapeutics during the 3rd quarter worth approximately $32,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in Relmada Therapeutics by 99.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after purchasing an additional 78,779 shares in the last quarter. 45.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RLMD shares. Leerink Partners reiterated a “market perform” rating and set a $1.00 price objective (down from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday, December 4th. Mizuho reiterated a “neutral” rating and set a $1.00 price target (down previously from $23.00) on shares of Relmada Therapeutics in a research note on Thursday, December 5th. Finally, Leerink Partnrs cut Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.25.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $0.36 on Wednesday. Relmada Therapeutics, Inc. has a 1 year low of $0.34 and a 1 year high of $7.22. The company has a market capitalization of $10.99 million, a PE ratio of -0.13 and a beta of 0.51. The company has a fifty day moving average of $0.91 and a 200 day moving average of $2.43.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.07). During the same quarter last year, the business earned ($0.73) earnings per share. Research analysts expect that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current year.

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.