Maged Shenouda Purchases 120,200 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 120,200 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was purchased at an average cost of $4.20 per share, for a total transaction of $504,840.00. Following the completion of the transaction, the chief financial officer directly owned 920,200 shares in the company, valued at approximately $3,864,840. This trade represents a 15.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Maged Shenouda also recently made the following trade(s):

• On Thursday, September 10th, Maged Shenouda purchased 79,800 shares of Relmada Therapeutics stock. The shares were purchased at an average price of $4.25 per share, with a total value of $339,150.00.

Relmada Therapeutics Stock Performance

RLMD opened at $4.07 on Friday. Relmada Therapeutics, Inc. has a 1 year low of $1.44 and a 1 year high of $8.00. The firm has a 50 day moving average price of $5.10 and a 200 day moving average price of $6.05. The company has a market cap of $434.15 million, a PE ratio of -4.52 and a beta of 0.45.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.09. On average, sell-side analysts predict that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Institutional Trading of Relmada Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RLMD. California State Teachers Retirement System bought a new stake in shares of Relmada Therapeutics in the 2nd quarter valued at approximately $62,000. Legal & General Group Plc bought a new position in shares of Relmada Therapeutics in the 2nd quarter worth about $64,000. AXQ Capital LP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at about $84,000. State of Wyoming bought a new stake in shares of Relmada Therapeutics during the 1st quarter valued at about $88,000. Finally, Keebeck Wealth Management bought a new position in Relmada Therapeutics in the first quarter worth about $90,000. 45.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RLMD has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. HC Wainwright assumed coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Relmada Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

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.