Relmada Therapeutics (NASDAQ:RLMD) CFO Maged Shenouda Purchases 500,000 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $2.20 per share, with a total value of $1,100,000.00. Following the purchase, the chief financial officer directly owned 788,335 shares in the company, valued at $1,734,337. The trade was a 173.41% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Relmada Therapeutics Trading Up 4.0%

Relmada Therapeutics stock opened at $2.61 on Friday. The stock has a fifty day moving average price of $1.94 and a 200 day moving average price of $1.06. Relmada Therapeutics, Inc. has a 52 week low of $0.24 and a 52 week high of $3.43. The firm has a market capitalization of $86.63 million, a P/E ratio of -1.18 and a beta of 0.87.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). As a group, equities analysts predict that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RLMD. Goldman Sachs Group Inc. bought a new stake in Relmada Therapeutics during the first quarter valued at $33,000. AdvisorShares Investments LLC lifted its holdings in shares of Relmada Therapeutics by 43.4% in the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock valued at $238,000 after purchasing an additional 120,000 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $28,000. Marshall Wace LLP bought a new position in shares of Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Finally, Jane Street Group LLC purchased a new position in Relmada Therapeutics in the second quarter worth $69,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RLMD. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $1.00.

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.