Maged Shenouda Purchases 11,665 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 11,665 shares of the company’s stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $4.12 per share, for a total transaction of $48,059.80. Following the completion of the purchase, the chief financial officer owned 800,000 shares of the company’s stock, valued at $3,296,000. This trade represents a 1.48% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, November 5th, Maged Shenouda purchased 500,000 shares of Relmada Therapeutics stock. The shares were bought at an average price of $2.20 per share, with a total value of $1,100,000.00.

Relmada Therapeutics Trading Down 10.9%

Shares of RLMD opened at $4.01 on Thursday. The stock’s 50 day moving average is $3.30 and its two-hundred day moving average is $1.79. Relmada Therapeutics, Inc. has a twelve month low of $0.24 and a twelve month high of $5.12. The firm has a market capitalization of $294.05 million, a PE ratio of -2.23 and a beta of 0.74.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.26). On average, sell-side analysts predict that Relmada Therapeutics, Inc. will post -2.73 EPS for the current year.

Institutional Trading of Relmada Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC acquired a new stake in shares of Relmada Therapeutics in the third quarter worth approximately $1,393,000. AdvisorShares Investments LLC increased its position in Relmada Therapeutics by 1.8% during the third quarter. AdvisorShares Investments LLC now owns 403,488 shares of the company’s stock worth $811,000 after purchasing an additional 6,974 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Relmada Therapeutics during the second quarter worth approximately $120,000. Two Sigma Investments LP boosted its holdings in shares of Relmada Therapeutics by 82.0% in the 3rd quarter. Two Sigma Investments LP now owns 173,614 shares of the company’s stock valued at $349,000 after purchasing an additional 78,197 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Relmada Therapeutics during the 2nd quarter valued at $93,000. 45.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on RLMD. Mizuho raised Relmada Therapeutics from a “neutral” rating to an “outperform” rating and upped their target price for the company from $1.00 to $10.00 in a research note on Wednesday, November 19th. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a report on Friday, October 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.00.

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.