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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 79,800 shares of Relmada Therapeutics stock in a transaction on Thursday, September 10th. The shares were purchased at an average price of $4.25 per share, for a total transaction of $339,150.00. Following the completion of the purchase, the chief financial officer directly owned 1,000,000 shares of the company’s stock, valued at approximately $4,250,000. This represents a 8.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, September 9th, Maged Shenouda purchased 120,200 shares of Relmada Therapeutics stock. The shares were purchased at an average price of $4.20 per share, for a total transaction of $504,840.00.

Relmada Therapeutics Price Performance

Shares of RLMD opened at $4.07 on Friday. The firm has a 50 day simple moving average of $5.10 and a two-hundred day simple moving average of $6.05. The company has a market cap of $434.15 million, a P/E ratio of -4.52 and a beta of 0.45. Relmada Therapeutics, Inc. has a one year low of $1.44 and a one year high of $8.00.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. On average, 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Jupiter Topco LLC acquired a new position in Relmada Therapeutics in the second quarter valued at approximately $77,316,000. BlackRock Inc. acquired a new stake in Relmada Therapeutics in the second quarter worth $51,393,000. Janus Henderson Group PLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter valued at about $35,041,000. Squadron Capital Management LLC acquired a new stake in shares of Relmada Therapeutics in the 4th quarter valued at about $32,361,000. Finally, Spruce Street Capital LP bought a new stake in Relmada Therapeutics in the 2nd quarter valued at about $44,227,990. Institutional investors own 45.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. HC Wainwright began coverage on Relmada Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.