Insider Buying: Relmada Therapeutics (NASDAQ:RLMD) CFO Buys 120,200 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 120,200 shares of the business’s stock in a transaction on Wednesday, September 9th. The stock was bought at an average price of $4.20 per share, for a total transaction of $504,840.00. Following the completion of the purchase, the chief financial officer directly owned 920,200 shares of the company’s stock, valued at $3,864,840. The trade was a 15.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, September 10th, Maged Shenouda purchased 79,800 shares of Relmada Therapeutics stock. The shares were purchased at an average cost of $4.25 per share, with a total value of $339,150.00.

Relmada Therapeutics Stock Performance

Relmada Therapeutics stock opened at $4.07 on Friday. Relmada Therapeutics, Inc. has a one year low of $1.44 and a one year high of $8.00. The company has a 50-day simple moving average of $5.10 and a 200-day simple moving average of $6.05. The firm has a market capitalization of $434.15 million, a P/E ratio of -4.52 and a beta of 0.45.

Relmada Therapeutics (NASDAQ:RLMD) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.09. As a group, sell-side analysts forecast that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Walleye Capital LLC bought a new stake in Relmada Therapeutics in the second quarter worth about $4,264,000. Janus Henderson Group PLC boosted its position in shares of Relmada Therapeutics by 52.2% during the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock valued at $76,892,000 after purchasing an additional 3,793,862 shares in the last quarter. Commodore Capital LP acquired a new position in shares of Relmada Therapeutics in the 1st quarter worth approximately $4,412,000. Deutsche Bank AG acquired a new position in shares of Relmada Therapeutics in the 2nd quarter worth approximately $2,207,000. Finally, ADAR1 Capital Management LLC raised its holdings in shares of Relmada Therapeutics by 1,364.1% in the 1st quarter. ADAR1 Capital Management LLC now owns 451,918 shares of the company’s stock worth $3,145,000 after purchasing an additional 421,052 shares in the last quarter. Institutional investors own 45.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HC Wainwright began coverage on Relmada Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.