On May 4, 2023 at 09:30:05 ET an unusually large $75.00K block of Put contracts in Relmada Therapeutics (RLMD) was sold, with a strike price of $3.00 / share, expiring in 134 day(s) (on September 15, 2023).
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 251 funds or institutions reporting positions in Relmada Therapeutics. This is a decrease of 30 owner(s) or 10.68% in the last quarter. Average portfolio weight of all funds dedicated to RLMD is 0.05%, a decrease of 82.22%. Total shares owned by institutions decreased in the last three months by 22.35% to 20,207K shares. The put/call ratio of RLMD is 0.40, indicating a bullish outlook.
Analyst Price Forecast Suggests 326.56% Upside
As of April 24, 2023, the average one-year price target for Relmada Therapeutics is 11.60. The forecasts range from a low of 3.03 to a high of $27.30. The average price target represents an increase of 326.56% from its latest reported closing price of 2.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Relmada Therapeutics is 0MM. The projected annual non-GAAP EPS is -3.40.
What are Other Shareholders Doing?
Deep Track Capital holds 2,838K shares representing 9.43% ownership of the company. In it’s prior filing, the firm reported owning 461K shares, representing an increase of 83.76%. The firm decreased its portfolio allocation in RLMD by 46.78% over the last quarter.
Rtw Investments holds 2,068K shares representing 6.87% ownership of the company. In it’s prior filing, the firm reported owning 2,644K shares, representing a decrease of 27.89%. The firm decreased its portfolio allocation in RLMD by 93.47% over the last quarter.
Acadian Asset Management holds 1,100K shares representing 3.66% ownership of the company.
Millennium Management holds 1,062K shares representing 3.53% ownership of the company. In it’s prior filing, the firm reported owning 20K shares, representing an increase of 98.14%. The firm increased its portfolio allocation in RLMD by 374.97% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 905K shares representing 3.01% ownership of the company. No change in the last quarter.
Relmada Therapeutics Background Information
(This description is provided by the company.)
Relmada Therapeutics is a late-stage biotechnology company addressing diseases of the central nervous system (CNS), with a focus on major depressive disorder (MDD). Its experienced and dedicated team is committed to making a difference in the lives of patients and their families. Relmada’ s lead program, REL-1017, is a novel NMDA receptor (NMDAR) channel blocker that preferentially targets hyperactive channels while maintaining physiological glutamatergic neurotransmission. REL-1017 has entered late-stage development as an adjunctive treatment for MDD in adults.
See all Relmada Therapeutics regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.