Jacobs Levy Equity Management Inc. Has $511,000 Holdings in Relmada Therapeutics, Inc. (NASDAQ:RLMD)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) by 99.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 157,672 shares of the company’s stock after acquiring an additional 78,779 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Relmada Therapeutics were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HighTower Advisors LLC bought a new position in Relmada Therapeutics in the third quarter valued at approximately $32,000. FMR LLC lifted its stake 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 purchasing an additional 26,185 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 during the last quarter. American Century Companies Inc. grew its stake 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 purchasing an additional 4,027 shares during the period. Finally, AdvisorShares Investments LLC increased its holdings in Relmada Therapeutics by 28.5% in the second 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. 45.24% of the stock is owned by institutional investors.

Insider Transactions at Relmada Therapeutics

In other news, CFO Maged Shenouda bought 24,120 shares of the stock in a transaction 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 acquisition, the chief financial officer now owns 88,335 shares in the company, valued at approximately $260,588.25. This trade represents a 37.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sergio Traversa purchased 51,407 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was purchased at an average cost of $2.99 per share, for a total transaction of $153,706.93. Following the purchase, the chief executive officer now directly owns 384,024 shares in the company, valued at approximately $1,148,231.76. This trade represents a 15.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.00% of the stock is owned by insiders.

Relmada Therapeutics Stock Performance

Shares of RLMD stock opened at $0.48 on Tuesday. Relmada Therapeutics, Inc. has a 52 week low of $0.43 and a 52 week high of $7.22. The company’s 50 day moving average price is $3.12 and its two-hundred day moving average price is $3.15. The company has a market capitalization of $14.51 million, a P/E ratio of -0.17 and a beta of 0.35.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho restated a “neutral” rating and set a $1.00 target price (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partners restated a “market perform” rating and set a $1.00 price objective (down previously from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Leerink Partnrs lowered shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Relmada Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the company from $3.50 to $13.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.25.

Relmada Therapeutics 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.