Relmada Therapeutics (NASDAQ:RLMD) Shares Down 0.3% – What’s Next?

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) dropped 0.3% during mid-day trading on Tuesday . The company traded as low as $3.37 and last traded at $3.49. Approximately 233,907 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 189,832 shares. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the company from $3.50 to $13.00 in a report on Tuesday, September 17th.

Relmada Therapeutics Stock Down 0.3 %

The business’s 50-day moving average price is $3.02 and its 200 day moving average price is $3.47. The company has a market capitalization of $105.31 million, a P/E ratio of -1.12 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.24. During the same quarter in the prior year, the company earned ($0.84) earnings per share. Analysts anticipate that Relmada Therapeutics, Inc. will post -2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles J. Casamento acquired 13,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average cost of $2.56 per share, for a total transaction of $33,280.00. Following the completion of the transaction, the director now owns 13,000 shares in the company, valued at approximately $33,280. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Relmada Therapeutics news, CFO Maged Shenouda bought 24,120 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $2.95 per share, for a total transaction of $71,154.00. Following the transaction, the chief financial officer now directly owns 88,335 shares in the company, valued at $260,588.25. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles J. Casamento acquired 13,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was bought at an average price of $2.56 per share, for a total transaction of $33,280.00. Following the acquisition, the director now owns 13,000 shares of the company’s stock, valued at approximately $33,280. The disclosure for this purchase can be found here. Insiders have acquired 152,300 shares of company stock worth $429,655 in the last ninety days. 18.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Relmada Therapeutics

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

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.