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

Vestal Point Capital LP lowered its stake in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 59.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 490,000 shares of the company’s stock after selling 710,000 shares during the quarter. Vestal Point Capital LP’s holdings in Relmada Therapeutics were worth $1,588,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Relmada Therapeutics by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock valued at $95,000 after acquiring an additional 4,027 shares during the period. Acadian Asset Management LLC lifted its position in Relmada Therapeutics by 1.0% during the second quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock worth $3,577,000 after purchasing an additional 12,147 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Relmada Therapeutics during the first quarter worth about $70,000. AdvisorShares Investments LLC increased its holdings 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 buying an additional 19,975 shares during the period. Finally, FMR LLC raised its position in shares of Relmada Therapeutics by 29.0% in the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock valued at $378,000 after buying an additional 26,185 shares in the last quarter. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Trading Up 6.6 %

Relmada Therapeutics stock opened at $2.90 on Friday. Relmada Therapeutics, Inc. has a 12-month low of $1.88 and a 12-month high of $7.22. The business’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $3.22.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised shares of Relmada Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $3.50 to $13.00 in a research note on Tuesday, September 17th.

Insider Activity

In related news, CFO Maged Shenouda purchased 24,120 shares of the stock in a transaction dated Wednesday, September 11th. The stock was bought at an average cost of $2.95 per share, for a total transaction of $71,154.00. Following the completion of the acquisition, the chief financial officer now owns 88,335 shares of the company’s stock, valued at approximately $260,588.25. This represents a 37.56 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sergio Traversa acquired 51,407 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were purchased at an average cost of $2.99 per share, for a total transaction of $153,706.93. Following the acquisition, the chief executive officer now owns 384,024 shares in the company, valued at $1,148,231.76. This represents a 15.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 152,300 shares of company stock worth $429,655. Corporate insiders own 18.00% of the company’s stock.

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.