Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Acquires 55,579 Shares of Stock

Relmada Therapeutics, Inc. (NASDAQ:RLMD) CEO Sergio Traversa acquired 55,579 shares of the stock in a transaction on Monday, September 9th. The shares were bought at an average price of $2.71 per share, with a total value of $150,619.09. Following the purchase, the chief executive officer now directly owns 299,603 shares of the company’s stock, valued at approximately $811,924.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 11th, Sergio Traversa purchased 51,407 shares of Relmada Therapeutics stock. The stock was bought at an average cost of $2.99 per share, with a total value of $153,706.93.

Relmada Therapeutics Stock Performance

Shares of NASDAQ RLMD opened at $3.27 on Friday. Relmada Therapeutics, Inc. has a twelve month low of $1.88 and a twelve month high of $7.22. The company has a 50 day moving average of $3.21 and a 200 day moving average of $3.79.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Relmada Therapeutics

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

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.