Paul Edward Kelly Acquires 90,000 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly acquired 90,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $2.20 per share, for a total transaction of $198,000.00. Following the acquisition, the chief operating officer owned 502,295 shares in the company, valued at approximately $1,105,049. This trade represents a 21.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Relmada Therapeutics Stock Performance

NASDAQ:RLMD opened at $2.65 on Friday. The company has a 50-day moving average of $1.97 and a 200-day moving average of $1.08. Relmada Therapeutics, Inc. has a 52 week low of $0.24 and a 52 week high of $3.42. The company has a market capitalization of $87.95 million, a price-to-earnings ratio of -1.19 and a beta of 0.87.

Relmada Therapeutics (NASDAQ:RLMD) last released 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). Sell-side analysts forecast that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Relmada Therapeutics in the 2nd quarter valued at about $28,000. Goldman Sachs Group Inc. bought a new position in shares of Relmada Therapeutics during the first quarter worth about $33,000. LMR Partners LLP acquired a new stake in Relmada Therapeutics in the 2nd quarter valued at approximately $33,000. Jane Street Group LLC acquired a new stake in Relmada Therapeutics in the 2nd quarter valued at approximately $69,000. Finally, Marshall Wace LLP bought a new stake in Relmada Therapeutics in the 2nd quarter valued at approximately $93,000. 45.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $1.00.

About Relmada Therapeutics

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.