Relmada Therapeutics (NASDAQ:RLMD) COO Paul Edward Kelly Purchases 90,000 Shares

Relmada Therapeutics, Inc. (NASDAQ:RLMD) COO Paul Edward Kelly acquired 90,000 shares of Relmada Therapeutics stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average cost of $2.20 per share, with a total value of $198,000.00. Following the completion of the transaction, the chief operating officer directly owned 502,295 shares of the company’s stock, valued at $1,105,049. This trade represents a 21.83% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Relmada Therapeutics Price Performance

NASDAQ RLMD opened at $2.61 on Friday. Relmada Therapeutics, Inc. has a 52-week low of $0.24 and a 52-week high of $3.43. The firm has a market capitalization of $86.63 million, a price-to-earnings ratio of -1.18 and a beta of 0.87. The company’s fifty day moving average is $1.94 and its two-hundred day moving average is $1.06.

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

Institutional Investors Weigh In On Relmada Therapeutics

A number of large investors have recently added to or reduced their stakes in RLMD. Goldman Sachs Group Inc. bought a new position in Relmada Therapeutics in the 1st quarter valued at about $33,000. AdvisorShares Investments LLC grew its position in shares of Relmada Therapeutics by 43.4% in the second quarter. AdvisorShares Investments LLC now owns 396,514 shares of the company’s stock valued at $238,000 after purchasing an additional 120,000 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Relmada Therapeutics during the second quarter worth approximately $28,000. Marshall Wace LLP acquired a new stake in Relmada Therapeutics during the 2nd quarter worth approximately $93,000. Finally, Jane Street Group LLC bought a new stake in Relmada Therapeutics in the 2nd quarter valued at $69,000. Institutional investors own 45.24% of the company’s stock.

Wall Street Analysts Forecast Growth

RLMD has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Friday, October 31st. Wall Street Zen upgraded Relmada Therapeutics to a “hold” rating in a report on Saturday, October 11th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Relmada Therapeutics has an average rating of “Reduce” and a consensus price target of $1.00.

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.