Maged Shenouda Purchases 50,000 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 50,000 shares of Relmada Therapeutics stock in a transaction that occurred on Friday, May 16th. The stock was bought at an average price of $0.44 per share, with a total value of $22,000.00. Following the purchase, the chief financial officer now directly owns 138,335 shares of the company’s stock, valued at approximately $60,867.40. This trade represents a 56.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Maged Shenouda also recently made the following trade(s):

• On Tuesday, May 20th, Maged Shenouda acquired 60,000 shares of Relmada Therapeutics stock. The stock was bought at an average price of $0.52 per share, with a total value of $31,200.00.
• On Monday, May 19th, Maged Shenouda acquired 90,000 shares of Relmada Therapeutics stock. The stock was bought at an average price of $0.49 per share, with a total value of $44,100.00.

Relmada Therapeutics Stock Down 13.0%

Shares of NASDAQ RLMD opened at $0.52 on Thursday. Relmada Therapeutics, Inc. has a 52 week low of $0.24 and a 52 week high of $4.47. The firm has a 50-day moving average price of $0.36 and a 200 day moving average price of $0.77. The stock has a market capitalization of $17.24 million, a price-to-earnings ratio of -0.18 and a beta of 0.18.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.27). Equities research analysts expect that Relmada Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in Relmada Therapeutics during the first quarter worth about $33,000. Tang Capital Management LLC raised its position in Relmada Therapeutics by 295.1% during the fourth quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock worth $104,000 after acquiring an additional 150,000 shares during the last quarter. AdvisorShares Investments LLC raised its position in Relmada Therapeutics by 206.5% during the fourth quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock worth $109,000 after acquiring an additional 141,540 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Relmada Therapeutics by 535.5% during the fourth quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock worth $86,000 after acquiring an additional 138,625 shares during the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

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.