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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CFO Maged Shenouda acquired 79,800 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $4.25 per share, for a total transaction of $339,150.00. Following the completion of the transaction, the chief financial officer owned 1,000,000 shares in the company, valued at $4,250,000. The trade was a 8.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $4.52 on Friday. Relmada Therapeutics, Inc. has a one year low of $1.45 and a one year high of $8.00. The company has a market cap of $482.15 million, a P/E ratio of -5.02 and a beta of 0.45. The firm has a fifty day moving average of $5.06 and a two-hundred day moving average of $6.04.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.09. As a group, equities analysts predict that Relmada Therapeutics, Inc. will post -0.6 earnings per share for the current year.

Institutional Trading of Relmada Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in shares of Relmada Therapeutics in the 2nd quarter worth about $62,000. Legal & General Group Plc purchased a new position in Relmada Therapeutics during the 2nd quarter valued at about $64,000. AXQ Capital LP acquired a new position in Relmada Therapeutics during the second quarter worth about $84,000. State of Wyoming acquired a new position in Relmada Therapeutics during the first quarter worth about $88,000. Finally, Keebeck Wealth Management purchased a new stake in shares of Relmada Therapeutics in the first quarter valued at about $90,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright assumed coverage on Relmada Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relmada Therapeutics in a research note on Thursday, June 18th. One equities research 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 stock. Based on data from MarketBeat, Relmada Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $12.00.

About Relmada Therapeutics

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.