Insider Buying: Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Buys 8,194 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 8,194 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were purchased at an average price of $2.55 per share, with a total value of $20,894.70. Following the completion of the transaction, the chief financial officer now owns 43,097 shares of the company’s stock, valued at $109,897.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, September 11th, Maged Shenouda acquired 24,120 shares of Relmada Therapeutics stock. The shares were purchased at an average price of $2.95 per share, with a total value of $71,154.00.

Relmada Therapeutics Stock Up 7.5 %

RLMD traded up $0.21 during midday trading on Wednesday, hitting $3.02. The company had a trading volume of 196,113 shares, compared to its average volume of 173,163. Relmada Therapeutics, Inc. has a 52 week low of $1.88 and a 52 week high of $7.22. The company has a market capitalization of $91.13 million, a price-to-earnings ratio of -0.96 and a beta of 0.51. The stock’s 50 day moving average price is $3.21 and its 200 day moving average price is $3.80.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.24. During the same quarter in the prior year, the company earned ($0.84) earnings per share. Research analysts predict that Relmada Therapeutics, Inc. will post -2.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group cut shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $3.00 to $2.00 in a research report on Wednesday, June 5th.

Institutional Investors Weigh In On Relmada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RLMD. Opaleye Management Inc. increased its stake in Relmada Therapeutics by 2,823.3% in the fourth quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock valued at $3,631,000 after purchasing an additional 847,000 shares in the last quarter. Vestal Point Capital LP bought a new stake in Relmada Therapeutics in the fourth quarter valued at $476,000. ADAR1 Capital Management LLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter valued at about $243,000. Renaissance Technologies LLC grew its holdings in shares of Relmada Therapeutics by 153.6% during the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after buying an additional 53,767 shares during the last quarter. Finally, AdvisorShares Investments LLC grew its holdings in shares of Relmada Therapeutics by 28.5% during the second quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock valued at $276,000 after buying an additional 19,975 shares during the last quarter. 45.24% of the stock is owned by institutional investors.

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.