Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Acquires $150,619.09 in Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Sergio Traversa bought 55,579 shares of the company’s stock in a transaction on Monday, September 9th. The stock was bought at an average price of $2.71 per share, for a total transaction of $150,619.09. Following the completion of the purchase, the chief executive officer now directly owns 299,603 shares in the company, valued at $811,924.13. 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 Wednesday, September 11th, Sergio Traversa bought 51,407 shares of Relmada Therapeutics stock. The stock was purchased at an average price of $2.99 per share, with a total value of $153,706.93.

Relmada Therapeutics Stock Up 7.5 %

Shares of NASDAQ:RLMD opened at $3.02 on Thursday. The firm has a 50 day moving average of $3.21 and a 200 day moving average of $3.79. The company has a market capitalization of $91.11 million, a price-to-earnings ratio of -0.96 and a beta of 0.51. Relmada Therapeutics, Inc. has a 52 week low of $1.88 and a 52 week high of $7.22.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Relmada Therapeutics

Institutional investors have recently modified their holdings of the company. Vestal Point Capital LP bought a new position in shares of Relmada Therapeutics during the 4th quarter worth approximately $476,000. ADAR1 Capital Management LLC acquired a new position in shares of Relmada Therapeutics during the fourth quarter valued at about $243,000. Opaleye Management Inc. boosted its stake in Relmada Therapeutics by 2,823.3% in the 4th quarter. Opaleye Management Inc. now owns 877,000 shares of the company’s stock worth $3,631,000 after purchasing an additional 847,000 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Relmada Therapeutics during the first quarter valued at $53,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Relmada Therapeutics in the 1st quarter valued at $70,000. 45.24% of the stock is currently owned by institutional investors.

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.