Insider Buying: Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Buys 200,000 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly bought 200,000 shares of the business’s stock in a transaction on Friday, May 16th. The shares were acquired at an average price of $0.43 per share, with a total value of $86,000.00. Following the transaction, the chief operating officer now owns 412,295 shares of the company’s stock, valued at $177,286.85. The trade was a 94.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Relmada Therapeutics Stock Up 17.3%

Shares of NASDAQ:RLMD traded up $0.09 during midday trading on Tuesday, reaching $0.60. The company’s stock had a trading volume of 1,386,935 shares, compared to its average volume of 913,305. The firm has a market cap of $19.82 million, a price-to-earnings ratio of -0.21 and a beta of 0.18. The business has a 50 day moving average price of $0.34 and a 200 day moving average price of $0.77. Relmada Therapeutics, Inc. has a 1 year low of $0.24 and a 1 year high of $4.47.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.27). Sell-side analysts anticipate that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

Institutional Trading of Relmada Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in Relmada Therapeutics by 535.5% in the fourth quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock valued at $86,000 after buying an additional 138,625 shares during the period. AdvisorShares Investments LLC increased its position in shares of Relmada Therapeutics by 206.5% in the fourth quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock worth $109,000 after acquiring an additional 141,540 shares in the last quarter. Tang Capital Management LLC raised its stake in shares of Relmada Therapeutics by 295.1% in the 4th quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after acquiring an additional 150,000 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics during the 1st quarter valued at $33,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

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.