Maged Shenouda Acquires 120,200 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda purchased 120,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was bought at an average price of $4.20 per share, with a total value of $504,840.00. Following the transaction, the chief financial officer owned 920,200 shares of the company’s stock, valued at $3,864,840. This represents a 15.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, September 10th, Maged Shenouda acquired 79,800 shares of Relmada Therapeutics stock. The shares were bought at an average price of $4.25 per share, for a total transaction of $339,150.00.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $4.52 on Friday. The stock has a market cap of $482.15 million, a price-to-earnings ratio of -5.02 and a beta of 0.45. The stock has a 50 day moving average price of $5.06 and a 200-day moving average price of $6.04. Relmada Therapeutics, Inc. has a one year low of $1.45 and a one year 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, beating the consensus estimate of ($0.20) by $0.09. Sell-side analysts predict that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new stake in shares of Relmada Therapeutics during the 2nd quarter worth $77,316,000. Janus Henderson Group PLC grew its stake in Relmada Therapeutics by 52.2% in the first quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after purchasing an additional 3,793,862 shares during the last quarter. BlackRock Inc. bought a new position in Relmada Therapeutics in the second quarter worth about $51,393,000. Squadron Capital Management LLC bought a new position in Relmada Therapeutics in the fourth quarter worth about $32,361,000. Finally, Spruce Street Capital LP purchased a new stake in shares of Relmada Therapeutics during the second quarter valued at about $44,227,990. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.