Relmada Therapeutics Inc [NASDAQ: RLMD] jumped around 0.06 points on Thursday, while shares priced at $4.65 at the close of the session, up 1.31%. The company report on March 19, 2024 at 4:15 PM that Relmada Therapeutics Provides Corporate Update and Reports Fourth Quarter and Full-Year 2023 Financial Results.
Relmada Therapeutics, Inc. (Nasdaq: RLMD), a late-stage biotechnology company addressing diseases of the central nervous system (CNS), today provided a corporate update and announced preliminary and unaudited financial results for the fourth quarter and full year ended December 31, 2023. The Company will host a conference call today, Tuesday, March 19, at 4:30 PM Eastern Time/1:30 PM Pacific Time.
“We continue to make solid progress in advancing our ongoing Phase 3 program for REL-1017 as an adjunctive treatment for major depressive disorder (MDD),” said Sergio Traversa, Relmada’s Chief Executive Officer. “Enrollment in the ongoing Reliance II (study 302) is steadily proceeding, and we expect top line data in the second half of 2024. In our second Phase 3 trial for REL-1017, Relight (study 304), we began dosing patients during the third quarter of last year, and we plan to complete enrollment in this study by year-end 2024.”.
Compared to the average trading volume of 294.78K shares, RLMD reached a trading volume of 113400 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Relmada Therapeutics Inc [RLMD]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RLMD shares is $10.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RLMD stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Truist have made an estimate for Relmada Therapeutics Inc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 14, 2022. The new note on the price target was released on October 14, 2022, representing the official price target for Relmada Therapeutics Inc stock. Previously, the target price had yet another drop from $81 to $8, while Goldman kept a Neutral rating on RLMD stock. On October 13, 2022, analysts decreased their price target for RLMD shares from 64 to 7.
The Average True Range (ATR) for Relmada Therapeutics Inc is set at 0.50 The Price to Book ratio for the last quarter was 1.64, with the Price to Cash per share for the same quarter was set at 3.19.
How has RLMD stock performed recently?
Relmada Therapeutics Inc [RLMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.21. With this latest performance, RLMD shares dropped by -24.27% in over the last four-week period, additionally plugging by 47.62% over the last 6 months – not to mention a rise of 90.57% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RLMD stock in for the last two-week period is set at 40.93, with the RSI for the last a single of trading hit 36.83, and the three-weeks RSI is set at 44.72 for Relmada Therapeutics Inc [RLMD]. The present Moving Average for the last 50 days of trading for this stock 5.11, while it was recorded at 4.74 for the last single week of trading, and 3.50 for the last 200 days.
Relmada Therapeutics Inc [RLMD]: Deeper insight into the fundamentals
Relmada Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.00 and a Current Ratio set at 8.00.
Earnings analysis for Relmada Therapeutics Inc [RLMD]
With the latest financial reports released by the company, Relmada Therapeutics Inc posted -0.87/share EPS, while the average EPS was predicted by analysts to be reported at -0.89/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RLMD.
Insider trade positions for Relmada Therapeutics Inc [RLMD]
The top three institutional holders of RLMD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RLMD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RLMD stock with ownership which is approximately 5.8325%.
