Relmada Therapeutics (NASDAQ:RLMD) CFO Maged Shenouda Acquires 79,800 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 79,800 shares of Relmada Therapeutics stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average cost of $4.25 per share, for a total transaction of $339,150.00. Following the purchase, the chief financial officer owned 1,000,000 shares in the company, valued at $4,250,000. This represents a 8.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, September 9th, Maged Shenouda bought 120,200 shares of Relmada Therapeutics stock. The stock was purchased at an average cost of $4.20 per share, with a total value of $504,840.00.

Relmada Therapeutics Price Performance

NASDAQ:RLMD opened at $4.52 on Friday. The firm has a market cap of $482.15 million, a PE ratio of -5.02 and a beta of 0.45. The firm has a 50 day simple moving average of $5.06 and a 200-day simple moving average of $6.04. Relmada Therapeutics, Inc. has a 1-year low of $1.45 and a 1-year high of $8.00.

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

Institutional Investors Weigh In On Relmada Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System acquired a new stake in shares of Relmada Therapeutics in the second quarter valued at about $62,000. AXQ Capital LP acquired a new position in Relmada Therapeutics during the 2nd quarter worth approximately $84,000. Wellington Management Group LLP acquired a new position in Relmada Therapeutics during the 2nd quarter worth approximately $441,000. Seven Fleet Capital Management LP purchased a new position in Relmada Therapeutics in the 2nd quarter worth approximately $2,410,000. Finally, Corient Private Wealth LP purchased a new position in Relmada Therapeutics in the 2nd quarter worth approximately $4,933,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RLMD. HC Wainwright assumed coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relmada Therapeutics in a report on Thursday, June 18th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Relmada Therapeutics Company Profile

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.