Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Buys $153,706.93 in Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Sergio Traversa acquired 51,407 shares of the stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average price of $2.99 per share, for a total transaction of $153,706.93. Following the completion of the transaction, the chief executive officer now directly owns 384,024 shares of the company’s stock, valued at $1,148,231.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sergio Traversa also recently made the following trade(s):

• On Monday, September 9th, Sergio Traversa bought 55,579 shares of Relmada Therapeutics stock. The shares were acquired at an average cost of $2.71 per share, for a total transaction of $150,619.09.

Relmada Therapeutics Stock Down 5.5 %

Shares of Relmada Therapeutics stock opened at $3.09 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $1.88 and a twelve month high of $7.22. The business has a 50-day moving average price of $3.22 and a 200-day moving average price of $3.77. The firm has a market cap of $93.23 million, a price-to-earnings ratio of -0.99 and a beta of 0.50.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.24. During the same period in the prior year, the business earned ($0.84) EPS. On average, equities analysts expect that Relmada Therapeutics, Inc. will post -2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RLMD. SG Americas Securities LLC purchased a new stake in Relmada Therapeutics during the first quarter valued at $53,000. State Board of Administration of Florida Retirement System bought a new stake in shares of Relmada Therapeutics in the 1st quarter worth about $70,000. American Century Companies Inc. raised its position in shares of Relmada Therapeutics by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock valued at $95,000 after buying an additional 4,027 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Relmada Therapeutics in the 4th quarter valued at about $243,000. Finally, Renaissance Technologies LLC grew its position in Relmada Therapeutics by 153.6% in the second quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after acquiring an additional 53,767 shares in the last quarter. 45.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lowered shares of Relmada Therapeutics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.00 to $2.00 in a report on Wednesday, June 5th.

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.