Paul Edward Kelly Purchases 200,000 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly bought 200,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $0.43 per share, for a total transaction of $86,000.00. Following the completion of the acquisition, the chief operating officer now owns 412,295 shares in the company, valued at approximately $177,286.85. This trade represents a 94.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Relmada Therapeutics Stock Up 17.3%

Shares of Relmada Therapeutics stock traded up $0.09 on Tuesday, hitting $0.60. 1,386,935 shares of the company’s stock traded hands, compared to its average volume of 913,305. Relmada Therapeutics, Inc. has a 52-week low of $0.24 and a 52-week high of $4.47. The stock has a market cap of $19.82 million, a P/E ratio of -0.21 and a beta of 0.18. The firm’s 50-day moving average is $0.34 and its 200 day moving average is $0.77.

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

Institutional Investors Weigh In On Relmada Therapeutics

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake 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 acquiring an additional 138,625 shares during the period. AdvisorShares Investments LLC boosted its position in Relmada Therapeutics by 206.5% during the 4th quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock valued at $109,000 after purchasing an additional 141,540 shares during the period. Tang Capital Management LLC grew its stake in Relmada Therapeutics by 295.1% during the 4th quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock worth $104,000 after buying an additional 150,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Relmada Therapeutics in the first quarter worth $33,000. Institutional investors 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.