Relmada Therapeutics (NASDAQ:RLMD) Stock Price Down 3.3%

Relmada Therapeutics, Inc. (NASDAQ:RLMD) dropped 3.3% on Monday . The stock traded as low as $3.70 and last traded at $3.87. Approximately 178,113 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 254,496 shares. The stock had previously closed at $4.00.

Relmada Therapeutics Trading Down 1.3 %

The firm has a market cap of $116.46 million, a PE ratio of -1.18 and a beta of 0.19. The firm has a fifty day simple moving average of $5.17 and a two-hundred day simple moving average of $3.98.

Relmada Therapeutics (NASDAQ:RLMD) last announced its earnings results on Tuesday, March 19th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.04. Equities analysts expect that Relmada Therapeutics, Inc. will post -3.53 earnings per share for the current fiscal year.

Insider Activity at Relmada Therapeutics

In other Relmada Therapeutics news, insider Chuck Ence bought 14,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average cost of $3.87 per share, for a total transaction of $56,115.00. Following the purchase, the insider now owns 25,300 shares in the company, valued at approximately $97,911. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Relmada Therapeutics news, insider Chuck Ence bought 14,500 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average cost of $3.87 per share, for a total transaction of $56,115.00. Following the purchase, the insider now owns 25,300 shares in the company, valued at approximately $97,911. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Maged Shenouda purchased 10,800 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $3.65 per share, for a total transaction of $39,420.00. Following the completion of the purchase, the chief financial officer now owns 13,028 shares in the company, valued at $47,552.20. The disclosure for this purchase can be found here. Insiders purchased a total of 91,176 shares of company stock valued at $350,305 in the last 90 days. Corporate insiders own 13.50% of the company’s stock.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RLMD. Stratos Wealth Partners LTD. purchased a new position in Relmada Therapeutics during the third quarter valued at $48,000. TD Asset Management Inc lifted its position in Relmada Therapeutics by 100.0% during the third quarter. TD Asset Management Inc now owns 25,000 shares of the company’s stock valued at $75,000 after purchasing an additional 12,500 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in Relmada Therapeutics during the fourth quarter valued at $243,000. Silverarc Capital Management LLC purchased a new position in Relmada Therapeutics during the third quarter valued at $300,000. Finally, Vestal Point Capital LP purchased a new position in Relmada Therapeutics during the fourth quarter valued at $476,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

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.