Charles J. Casamento Buys 13,000 Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) Director Charles J. Casamento purchased 13,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were acquired at an average price of $2.56 per share, for a total transaction of $33,280.00. Following the purchase, the director now owns 13,000 shares in the company, valued at $33,280. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Relmada Therapeutics Price Performance

NASDAQ:RLMD traded up $0.21 during midday trading on Wednesday, reaching $3.02. The stock had a trading volume of 196,113 shares, compared to its average volume of 173,163. Relmada Therapeutics, Inc. has a 1-year low of $1.88 and a 1-year high of $7.22. The firm’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $3.80. The stock has a market capitalization of $91.13 million, a P/E ratio of -0.96 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. During the same quarter in the prior year, the company earned ($0.84) earnings per share. On average, equities research analysts anticipate 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 lowered shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and lowered their target price for the company from $3.00 to $2.00 in a research note on Wednesday, June 5th.

Institutional Trading of Relmada Therapeutics

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in Relmada Therapeutics in the 1st quarter valued at $53,000. State Board of Administration of Florida Retirement System bought a new position in shares of Relmada Therapeutics during the 1st quarter worth about $70,000. American Century Companies Inc. lifted 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 worth $95,000 after acquiring an additional 4,027 shares during the period. ADAR1 Capital Management LLC bought a new position in shares of Relmada Therapeutics during the 4th quarter worth about $243,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Relmada Therapeutics by 153.6% during the 2nd quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after acquiring an additional 53,767 shares during the period. 45.24% of the stock is owned by 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.