Maged Shenouda Purchases 24,120 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda purchased 24,120 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average cost of $2.95 per share, with a total value of $71,154.00. Following the completion of the acquisition, the chief financial officer now directly owns 88,335 shares in the company, valued at approximately $260,588.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, September 9th, Maged Shenouda purchased 8,194 shares of Relmada Therapeutics stock. The stock was acquired at an average cost of $2.55 per share, with a total value of $20,894.70.

Relmada Therapeutics Price Performance

Shares of NASDAQ RLMD opened at $3.27 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $1.88 and a twelve month high of $7.22. The firm has a 50-day moving average of $3.21 and a two-hundred day moving average of $3.79.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Relmada Therapeutics

A number of hedge funds have recently bought and sold shares of RLMD. SG Americas Securities LLC purchased a new stake in Relmada Therapeutics during the first quarter valued at about $53,000. State Board of Administration of Florida Retirement System purchased a new stake in Relmada Therapeutics during the first quarter valued at about $70,000. American Century Companies Inc. lifted its stake in Relmada Therapeutics by 14.6% during the second 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 in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Relmada Therapeutics during the fourth quarter valued at about $243,000. Finally, Renaissance Technologies LLC lifted its stake in Relmada Therapeutics by 153.6% during the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock valued at $266,000 after buying an additional 53,767 shares in the last quarter. 45.24% of the stock is 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.