Relmada Therapeutics, Inc. (NASDAQ:RLMD – Get Free Report) CFO Maged Shenouda purchased 120,200 shares of the stock in a transaction on Wednesday, September 9th. The shares were purchased at an average price of $4.20 per share, with a total value of $504,840.00. Following the acquisition, the chief financial officer owned 920,200 shares in the company, valued at approximately $3,864,840. The trade was a 15.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Maged Shenouda also recently made the following trade(s):
- On Thursday, September 10th, Maged Shenouda acquired 79,800 shares of Relmada Therapeutics stock. The stock was purchased at an average cost of $4.25 per share, for a total transaction of $339,150.00.
Relmada Therapeutics Stock Up 11.1%
RLMD opened at $4.52 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $1.45 and a twelve month high of $8.00. The company has a fifty day moving average of $5.06 and a 200-day moving average of $6.04. The stock has a market cap of $482.15 million, a PE ratio of -5.02 and a beta of 0.45.
Analyst Ratings Changes
A number of research analysts have recently issued reports on RLMD shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright assumed coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target on the stock. One investment 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 given a Sell rating to the company. According to MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.
Check Out Our Latest Report on RLMD
Institutional Trading of Relmada Therapeutics
Several large investors have recently made changes to their positions in RLMD. Jupiter Topco LLC bought a new stake in Relmada Therapeutics in the 2nd quarter valued at about $77,316,000. Janus Henderson Group PLC boosted its holdings 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 worth $76,892,000 after acquiring an additional 3,793,862 shares in the last quarter. BlackRock Inc. bought a new position in Relmada Therapeutics in the second quarter worth approximately $51,393,000. Squadron Capital Management LLC acquired a new stake in Relmada Therapeutics in the fourth quarter valued at approximately $32,361,000. Finally, Spruce Street Capital LP acquired a new stake in Relmada Therapeutics in the second quarter valued at approximately $44,227,990. 45.24% of the stock is currently owned by institutional investors and hedge funds.
Relmada Therapeutics Company Profile
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.
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