Vestal Point Capital LP Has $1.59 Million Position in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Vestal Point Capital LP reduced its position in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD - Free Report) by 59.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 490,000 shares of the company's stock after selling 710,000 shares during the period. Vestal Point Capital LP owned about 1.62% of Relmada Therapeutics worth $1,588,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RLMD. American Century Companies Inc. increased its holdings in shares of Relmada Therapeutics by 14.6% during the second quarter. American Century Companies Inc. now owns 31,618 shares of the company's stock worth $95,000 after buying an additional 4,027 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Relmada Therapeutics by 1.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company's stock valued at $3,577,000 after purchasing an additional 12,147 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Relmada Therapeutics in the 1st quarter valued at $70,000. AdvisorShares Investments LLC raised its position in Relmada Therapeutics by 28.5% in the 2nd quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company's stock valued at $276,000 after purchasing an additional 19,975 shares during the last quarter. Finally, FMR LLC boosted its stake in Relmada Therapeutics by 29.0% in the third 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. 45.24% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sergio Traversa acquired 55,579 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average cost of $2.71 per share, with a total value of $150,619.09. Following the completion of the purchase, the chief executive officer now directly owns 299,603 shares in the company, valued at approximately $811,924.13. This trade represents a 22.78 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maged Shenouda purchased 24,120 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was purchased at an average price of $2.95 per share, for a total transaction of $71,154.00. Following the completion of the transaction, the chief financial officer now directly owns 88,335 shares in the company, valued at $260,588.25. This trade represents a 37.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 152,300 shares of company stock valued at $429,655. Company insiders own 18.00% of the company's stock.

Relmada Therapeutics Trading Up 4.1 %

Shares of Relmada Therapeutics stock traded up $0.12 during midday trading on Friday, reaching $3.02. The company had a trading volume of 111,560 shares, compared to its average volume of 178,899. The stock has a fifty day simple moving average of $3.33 and a 200 day simple moving average of $3.22. Relmada Therapeutics, Inc. has a 1-year low of $1.88 and a 1-year high of $7.22. The company has a market capitalization of $91.11 million, a price-to-earnings ratio of -1.01 and a beta of 0.41.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised Relmada Therapeutics from a "hold" rating to a "buy" rating and lifted their price target for the company from $3.50 to $13.00 in a report on Tuesday, September 17th.

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.