Relmada Therapeutics (NASDAQ:RLMD) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Relmada Therapeutics (NASDAQ:RLMD) to a strong sell rating in a research note published on Saturday morning.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $0.64 on Friday. The stock has a market cap of $21.22 million, a PE ratio of -0.22 and a beta of 0.18. The business has a fifty day moving average of $0.37 and a two-hundred day moving average of $0.71. Relmada Therapeutics has a 52-week low of $0.24 and a 52-week high of $4.47.

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

Insider Buying and Selling at Relmada Therapeutics

In other Relmada Therapeutics news, COO Paul Edward Kelly bought 200,000 shares of the stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $0.43 per share, for a total transaction of $86,000.00. Following the completion of the purchase, the chief operating officer now owns 412,295 shares in the company, valued at $177,286.85. This represents a 94.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maged Shenouda bought 90,000 shares of the stock in a transaction dated Monday, May 19th. The stock was acquired at an average price of $0.49 per share, with a total value of $44,100.00. Following the completion of the purchase, the chief financial officer now owns 228,335 shares of the company’s stock, valued at $111,884.15. This represents a 65.06% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 628,961 shares of company stock valued at $286,332. 20.70% of the stock is currently owned by company insiders.

Institutional Trading of Relmada Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new stake in shares of Relmada Therapeutics in the first quarter valued at $33,000. Renaissance Technologies LLC increased its stake in shares of 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 buying an additional 138,625 shares in the last quarter. Tang Capital Management LLC increased its stake in shares of Relmada Therapeutics by 295.1% in the fourth quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after buying an additional 150,000 shares in the last quarter. Finally, AdvisorShares Investments LLC increased its stake in shares of Relmada Therapeutics by 206.5% in the fourth quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock valued at $109,000 after buying an additional 141,540 shares in the last quarter. 45.24% of the stock is currently owned by institutional investors and hedge funds.

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.