Chuck Ence Acquires 136,000 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Chuck Ence acquired 136,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $2.20 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief operating officer owned 403,931 shares of the company’s stock, valued at $888,648.20. This trade represents a 50.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Relmada Therapeutics Trading Up 1.5%

NASDAQ:RLMD opened at $2.65 on Friday. The firm has a market capitalization of $87.95 million, a price-to-earnings ratio of -1.19 and a beta of 0.87. Relmada Therapeutics, Inc. has a 1-year low of $0.24 and a 1-year high of $3.42. The business’s 50-day moving average price is $1.97 and its two-hundred day moving average price 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 for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). Sell-side analysts predict that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current year.

Institutional Investors Weigh In On Relmada Therapeutics

Several institutional investors have recently bought and sold shares of RLMD. XTX Topco Ltd acquired a new position in Relmada Therapeutics during the 2nd quarter worth approximately $28,000. Goldman Sachs Group Inc. bought a new stake in shares of Relmada Therapeutics in the first quarter worth $33,000. LMR Partners LLP acquired a new position in Relmada Therapeutics during the second quarter worth $33,000. Jane Street Group LLC acquired a new position in Relmada Therapeutics during the second quarter worth $69,000. Finally, Marshall Wace LLP bought a new position in Relmada Therapeutics in the second quarter valued at $93,000. Institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

RLMD has been the topic of several recent analyst reports. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $1.00.

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.