Insider Buying: Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Buys 200,000 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly acquired 200,000 shares of Relmada Therapeutics stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $0.43 per share, for a total transaction of $86,000.00. Following the transaction, the chief operating officer now owns 412,295 shares of the company’s stock, valued at $177,286.85. This represents a 94.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $0.60 on Wednesday. Relmada Therapeutics, Inc. has a one year low of $0.24 and a one year high of $4.47. The company has a market cap of $19.82 million, a price-to-earnings ratio of -0.21 and a beta of 0.18. The business’s 50 day moving average price is $0.35 and its 200 day moving average price is $0.77.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.27). On average, analysts predict that Relmada Therapeutics, Inc. will post -2.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new position in Relmada Therapeutics during the first quarter worth approximately $33,000. Renaissance Technologies LLC lifted its position in Relmada Therapeutics by 535.5% during the fourth quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock worth $86,000 after buying an additional 138,625 shares in the last quarter. AdvisorShares Investments LLC lifted its position in Relmada Therapeutics by 206.5% during the fourth quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock worth $109,000 after buying an additional 141,540 shares in the last quarter. Finally, Tang Capital Management LLC lifted its position in Relmada Therapeutics by 295.1% during the fourth quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock worth $104,000 after buying an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 45.24% of the company’s stock.

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.