Insider Buying: Relmada Therapeutics, Inc. (NASDAQ:RLMD) Director Acquires $33,280.00 in Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) Director Charles J. Casamento purchased 13,000 shares of Relmada Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was acquired at an average price of $2.56 per share, with a total value of $33,280.00. Following the transaction, the director now owns 13,000 shares in the company, valued at $33,280. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Relmada Therapeutics Stock Performance

Shares of Relmada Therapeutics stock opened at $3.09 on Friday. The company has a market cap of $93.23 million, a P/E ratio of -0.99 and a beta of 0.50. Relmada Therapeutics, Inc. has a one year low of $1.88 and a one year high of $7.22. The firm has a fifty day moving average of $3.22 and a two-hundred day moving average of $3.77.

Relmada Therapeutics (NASDAQ:RLMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.24. During the same quarter in the previous year, the company posted ($0.84) EPS. As a group, equities analysts predict that Relmada Therapeutics, Inc. will post -2.39 earnings per share for the current year.

Hedge Funds Weigh In On Relmada Therapeutics

A number of large investors have recently bought and sold shares of RLMD. Vestal Point Capital LP purchased a new position in Relmada Therapeutics during the 4th quarter worth $476,000. ADAR1 Capital Management LLC acquired a new position in shares of Relmada Therapeutics during the 4th quarter worth $243,000. Opaleye Management Inc. grew its stake in shares of Relmada Therapeutics by 2,823.3% during 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 during the period. SG Americas Securities LLC acquired a new position in shares of Relmada Therapeutics during the 1st quarter worth $53,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of Relmada Therapeutics during the 1st quarter worth $70,000. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Analyst Ratings Changes

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

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.