Maged Shenouda Purchases 11,665 Shares of Relmada Therapeutics (NASDAQ:RLMD) Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda bought 11,665 shares of Relmada Therapeutics stock in a transaction that occurred on Monday, December 15th. The stock was purchased at an average cost of $4.12 per share, with a total value of $48,059.80. Following the completion of the transaction, the chief financial officer owned 800,000 shares of the company’s stock, valued at $3,296,000. This trade represents a 1.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 5th, Maged Shenouda acquired 500,000 shares of Relmada Therapeutics stock. The stock was acquired at an average price of $2.20 per share, with a total value of $1,100,000.00.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $4.71 on Tuesday. The firm’s 50-day simple moving average is $3.21 and its 200-day simple moving average is $1.75. The firm has a market cap of $345.11 million, a P/E ratio of -2.63 and a beta of 0.74. Relmada Therapeutics, Inc. has a twelve month low of $0.24 and a twelve month high of $5.12.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, November 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.26). On average, equities analysts forecast that Relmada Therapeutics, Inc. will post -2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. acquired a new position in shares of Relmada Therapeutics in the first quarter valued at approximately $33,000. AdvisorShares Investments LLC boosted its position in shares of Relmada Therapeutics by 43.4% during the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock worth $238,000 after buying an additional 120,000 shares during the period. XTX Topco Ltd bought a new position in shares of Relmada Therapeutics during the second quarter worth about $28,000. Marshall Wace LLP acquired a new position in Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Finally, Jane Street Group LLC acquired a new stake in shares of Relmada Therapeutics in the second quarter valued at approximately $69,000. Institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Mizuho upgraded shares of Relmada Therapeutics from a “neutral” rating to an “outperform” rating and upped their target price for the company from $1.00 to $10.00 in a research report on Wednesday, November 19th. Finally, Wall Street Zen raised Relmada Therapeutics to a “hold” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

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.