Relmada Therapeutics (NASDAQ:RLMD) CFO Buys 79,800 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 79,800 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $4.25 per share, with a total value of $339,150.00. Following the completion of the transaction, the chief financial officer owned 1,000,000 shares of the company’s stock, valued at $4,250,000. This represents a 8.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, September 9th, Maged Shenouda bought 120,200 shares of Relmada Therapeutics stock. The stock was bought at an average price of $4.20 per share, for a total transaction of $504,840.00.

Relmada Therapeutics Trading Down 0.5%

NASDAQ RLMD opened at $4.07 on Friday. The firm has a market capitalization of $434.15 million, a P/E ratio of -4.52 and a beta of 0.45. The business has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $6.05. Relmada Therapeutics, Inc. has a 12 month low of $1.44 and a 12 month high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. As a group, sell-side analysts predict that Relmada Therapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. HC Wainwright started coverage on shares of Relmada Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Hedge Funds Weigh In On Relmada Therapeutics

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Relmada Therapeutics in the 2nd quarter worth approximately $28,000. LMR Partners LLP bought a new stake in Relmada Therapeutics during the second quarter valued at $33,000. Goldman Sachs Group Inc. purchased a new position in Relmada Therapeutics during the first quarter worth about $33,000. California State Teachers Retirement System purchased a new stake in shares of Relmada Therapeutics in the 2nd quarter valued at about $62,000. Finally, Legal & General Group Plc bought a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at about $64,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.