Relmada Therapeutics, Inc. (NASDAQ:RLMD) Director Charles J. Casamento Purchases 13,000 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) Director Charles J. Casamento bought 13,000 shares of Relmada Therapeutics stock in a transaction dated Monday, September 9th. The stock was purchased at an average price of $2.56 per share, for a total transaction of $33,280.00. Following the purchase, the director now directly owns 13,000 shares in the company, valued at approximately $33,280. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Relmada Therapeutics Stock Performance

RLMD stock opened at $3.27 on Friday. The business has a fifty day moving average of $3.21 and a 200-day moving average of $3.79. Relmada Therapeutics, Inc. has a twelve month low of $1.88 and a twelve month high of $7.22.

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, topping analysts’ consensus estimates of ($0.83) by $0.24. During the same quarter in the prior year, the company earned ($0.84) EPS. On average, research analysts expect that Relmada Therapeutics, Inc. will post -2.39 EPS for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in shares of Relmada Therapeutics by 153.6% in the 2nd quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after acquiring an additional 53,767 shares during the last quarter. American Century Companies Inc. raised its holdings in Relmada Therapeutics by 14.6% in the second quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after purchasing an additional 4,027 shares during the period. AdvisorShares Investments LLC boosted its position 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 worth $276,000 after purchasing an additional 19,975 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Relmada Therapeutics by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock valued at $3,577,000 after buying an additional 12,147 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Relmada Therapeutics in the 1st quarter valued at $70,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Analysts Set New Price Targets

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 note on Wednesday, June 5th.

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.