Maged Shenouda Buys 8,194 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda purchased 8,194 shares of the business’s stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $2.55 per share, for a total transaction of $20,894.70. Following the purchase, the chief financial officer now owns 43,097 shares of the company’s stock, valued at $109,897.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, September 11th, Maged Shenouda acquired 24,120 shares of Relmada Therapeutics stock. The shares were purchased at an average price of $2.95 per share, with a total value of $71,154.00.

Relmada Therapeutics Stock Up 8.3 %

Shares of RLMD stock opened at $3.27 on Friday. Relmada Therapeutics, Inc. has a fifty-two week low of $1.88 and a fifty-two week high of $7.22. The firm’s 50 day moving average price is $3.21 and its two-hundred day moving average price is $3.79.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.24. During the same quarter last year, the business posted ($0.84) EPS. Analysts expect that Relmada Therapeutics, Inc. will post -2.39 EPS for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Relmada Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in shares of Relmada Therapeutics by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock valued at $95,000 after buying an additional 4,027 shares during the period. SG Americas Securities LLC acquired a new stake in Relmada Therapeutics in the first quarter valued at approximately $53,000. Acadian Asset Management LLC raised its stake in shares of Relmada Therapeutics by 1.0% during the second quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock valued at $3,577,000 after purchasing an additional 12,147 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Relmada Therapeutics during the first quarter worth $70,000. Finally, AdvisorShares Investments LLC boosted its stake in shares of Relmada Therapeutics by 28.5% in the second quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock valued at $276,000 after purchasing an additional 19,975 shares during the period. Hedge funds and other 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.