Maged Shenouda Acquires 500,000 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $2.20 per share, with a total value of $1,100,000.00. Following the acquisition, the chief financial officer owned 788,335 shares in the company, valued at $1,734,337. This trade represents a 173.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Relmada Therapeutics Stock Up 1.5%

RLMD stock opened at $2.65 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $0.24 and a twelve month high of $3.42. The firm has a market cap of $87.95 million, a price-to-earnings ratio of -1.19 and a beta of 0.87. The business’s fifty day simple moving average is $1.97 and its two-hundred day simple moving average is $1.08.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Research analysts expect that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RLMD shares. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a research note on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Friday, October 31st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $1.00.

Institutional Trading of Relmada Therapeutics

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics during the 1st quarter worth approximately $33,000. AdvisorShares Investments LLC lifted its position in Relmada Therapeutics by 43.4% during the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock worth $238,000 after buying an additional 120,000 shares in the last quarter. Corient Private Wealth LLC purchased a new position in Relmada Therapeutics during the second quarter worth approximately $120,000. LMR Partners LLP acquired a new position in Relmada Therapeutics during the second quarter worth $33,000. Finally, Jane Street Group LLC acquired a new position in Relmada Therapeutics during the second quarter worth $69,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

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.