Relmada Therapeutics, Inc. (NASDAQ:RLMD) Insider Buys $103,032.45 in Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) insider Chuck Ence purchased 228,961 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were purchased at an average cost of $0.45 per share, with a total value of $103,032.45. Following the purchase, the insider now directly owns 267,931 shares in the company, valued at approximately $120,568.95. The trade was a 587.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Relmada Therapeutics Stock Performance

NASDAQ RLMD traded up $0.09 during trading hours on Tuesday, reaching $0.60. The company’s stock had a trading volume of 1,386,935 shares, compared to its average volume of 913,305. The company’s 50-day moving average is $0.34 and its two-hundred day moving average is $0.77. Relmada Therapeutics, Inc. has a fifty-two week low of $0.24 and a fifty-two week high of $4.47. The stock has a market cap of $19.82 million, a PE ratio of -0.21 and a beta of 0.18.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.27). Equities analysts expect that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Relmada Therapeutics in the first quarter valued at $33,000. Renaissance Technologies LLC increased its position in Relmada Therapeutics by 535.5% during the 4th quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock worth $86,000 after purchasing an additional 138,625 shares in the last quarter. Tang Capital Management LLC raised its stake in Relmada Therapeutics by 295.1% in the 4th quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after purchasing an additional 150,000 shares during the last quarter. Finally, AdvisorShares Investments LLC lifted its holdings in Relmada Therapeutics by 206.5% in the 4th quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock valued at $109,000 after purchasing an additional 141,540 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.