Relmada Therapeutics (NASDAQ:RLMD) Trading Down 0.8% – Time to Sell?

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) were down 0.8% during trading on Thursday . The stock traded as low as $0.28 and last traded at $0.29. Approximately 111,991 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 550,054 shares. The stock had previously closed at $0.29.

Relmada Therapeutics Trading Down 0.8 %

The stock has a market cap of $9.62 million, a price-to-earnings ratio of -0.10 and a beta of 0.41. The stock’s 50 day moving average is $0.29 and its two-hundred day moving average is $1.28.

Relmada Therapeutics (NASDAQ:RLMD) last announced its earnings results on Thursday, March 27th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.08. On average, sell-side analysts predict that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Institutional Investors Weigh In On Relmada Therapeutics

Several hedge funds have recently modified their holdings of RLMD. Geode Capital Management LLC raised its position in Relmada Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock worth $987,000 after buying an additional 44,004 shares during the last quarter. Franklin Resources Inc. raised its holdings in Relmada Therapeutics by 28.6% during the third quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after purchasing an additional 289,490 shares in the last quarter. Tang Capital Management LLC lifted its position in Relmada Therapeutics by 295.1% in the fourth quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after purchasing an additional 150,000 shares during the period. Renaissance Technologies LLC boosted its holdings in Relmada Therapeutics by 535.5% in the 4th quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock valued at $86,000 after purchasing an additional 138,625 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its position in Relmada Therapeutics by 206.5% during the 4th quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock worth $109,000 after purchasing an additional 141,540 shares during the period. 45.24% of the stock is owned by institutional investors and hedge funds.

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.