Insider Buying: Relmada Therapeutics (NASDAQ:RLMD) COO Purchases $198,000.00 in Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly purchased 90,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average price of $2.20 per share, for a total transaction of $198,000.00. Following the purchase, the chief operating officer owned 502,295 shares in the company, valued at approximately $1,105,049. This represents a 21.83% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Relmada Therapeutics Stock Up 1.5%

Shares of Relmada Therapeutics 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 business has a 50-day moving average price of $1.97 and a 200-day moving average price of $1.08. The firm has a market cap of $87.95 million, a price-to-earnings ratio of -1.19 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RLMD. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $1.00.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RLMD. Goldman Sachs Group Inc. purchased a new stake in Relmada Therapeutics during the 1st quarter valued at $33,000. AdvisorShares Investments LLC increased 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 valued at $238,000 after acquiring an additional 120,000 shares during the last quarter. XTX Topco Ltd bought a new position in Relmada Therapeutics during the second quarter valued at $28,000. Marshall Wace LLP purchased a new stake in shares of Relmada Therapeutics in the second quarter valued at $93,000. Finally, Jane Street Group LLC bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth about $69,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Company Profile

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.