Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Sergio Traversa Purchases 51,407 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Sergio Traversa bought 51,407 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $2.99 per share, for a total transaction of $153,706.93. Following the transaction, the chief executive officer now directly owns 384,024 shares of the company’s stock, valued at $1,148,231.76. The purchase was disclosed in a filing with the SEC, which is available through this link.

Sergio Traversa also recently made the following trade(s):

• On Monday, September 9th, Sergio Traversa purchased 55,579 shares of Relmada Therapeutics stock. The shares were acquired at an average price of $2.71 per share, for a total transaction of $150,619.09.

Relmada Therapeutics Price Performance

Shares of RLMD stock traded up $0.21 during trading hours on Wednesday, reaching $3.02. 196,113 shares of the stock were exchanged, compared to its average volume of 173,163. The business’s fifty day moving average is $3.21 and its two-hundred day moving average is $3.80. Relmada Therapeutics, Inc. has a 12-month low of $1.88 and a 12-month high of $7.22. The firm has a market capitalization of $91.13 million, a P/E ratio of -0.90 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD) last released its earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.24. During the same quarter in the previous year, the business earned ($0.84) EPS. As a group, equities research analysts predict that Relmada Therapeutics, Inc. will post -2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and cut their price target for the stock from $3.00 to $2.00 in a research note on Wednesday, June 5th.

Hedge Funds Weigh In On Relmada Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Opaleye Management Inc. increased its stake in Relmada Therapeutics by 2,823.3% in the fourth quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock valued at $3,631,000 after purchasing an additional 847,000 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Relmada Therapeutics in the first quarter valued at approximately $70,000. Vestal Point Capital LP acquired a new stake in shares of Relmada Therapeutics in the fourth quarter valued at approximately $476,000. SG Americas Securities LLC acquired a new stake in shares of Relmada Therapeutics in the first quarter valued at approximately $53,000. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Relmada Therapeutics in the fourth quarter valued at approximately $243,000. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

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.