Relmada Therapeutics (NASDAQ:RLMD) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Relmada Therapeutics, Inc. (NASDAQ:RLMD) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $3.83 and traded as high as $3.93. Relmada Therapeutics shares last traded at $3.84, with a volume of 2,256,994 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Relmada Therapeutics in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relmada Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Relmada Therapeutics Stock Up 7.3%

The business’s 50 day moving average is $3.83 and its 200-day moving average is $5.32. The firm has a market cap of $409.61 million, a P/E ratio of -4.27 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. As a group, equities analysts predict that Relmada Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Relmada Therapeutics

In other Relmada Therapeutics news, CFO Maged Shenouda bought 79,800 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were bought at an average cost of $4.25 per share, with a total value of $339,150.00. Following the completion of the acquisition, the chief financial officer owned 1,000,000 shares of the company’s stock, valued at approximately $4,250,000. This trade represents a 8.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE bought a new position in shares of Relmada Therapeutics during the second quarter valued at approximately $5,619,000. Bank of New York Mellon Corp acquired a new stake in shares of Relmada Therapeutics during the 2nd quarter worth approximately $2,046,000. Walleye Capital LLC acquired a new stake in shares of Relmada Therapeutics during the 2nd quarter worth approximately $4,264,000. Deutsche Bank AG bought a new stake in shares of Relmada Therapeutics in the 2nd quarter worth approximately $2,207,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Relmada Therapeutics by 52.2% in the 1st quarter. Janus Henderson Group PLC now owns 11,063,862 shares of the company’s stock worth $76,892,000 after purchasing an additional 3,793,862 shares during the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

About Relmada Therapeutics

Relmada Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for central nervous system disorders. The company’s research has primarily targeted conditions with significant unmet medical needs, including major depressive disorder and other neuropsychiatric diseases.

Relmada’s lead investigational product is REL-1017, also known as esmethadone or dextromethadone. The orally administered compound is designed to modulate the N-methyl-D-aspartate (NMDA) receptor and has been studied as a potential adjunctive treatment for major depressive disorder in patients who do not respond adequately to standard antidepressants.