Relmada Therapeutics (NASDAQ:RLMD) COO Chuck Ence Purchases 136,000 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Chuck Ence bought 136,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $2.20 per share, with a total value of $299,200.00. Following the acquisition, the chief operating officer owned 403,931 shares in the company, valued at approximately $888,648.20. This represents a 50.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Relmada Therapeutics Trading Down 9.4%

Shares of Relmada Therapeutics stock opened at $2.51 on Thursday. The company has a fifty day simple moving average of $1.90 and a 200-day simple moving average of $1.05. Relmada Therapeutics, Inc. has a 12-month low of $0.24 and a 12-month high of $3.50. The stock has a market cap of $83.31 million, a price-to-earnings ratio of -1.13 and a beta of 0.87.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, August 7th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.05). On average, analysts forecast that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

Institutional Trading of Relmada Therapeutics

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $28,000. LMR Partners LLP acquired a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $33,000. Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $69,000. Goldman Sachs Group Inc. acquired a new stake in shares of Relmada Therapeutics in the 1st quarter worth $33,000. Finally, Marshall Wace LLP acquired a new stake in shares of Relmada Therapeutics in the 2nd quarter worth $93,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $1.00.

Relmada Therapeutics Company Profile

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.