Relmada Therapeutics (NASDAQ:RLMD) Stock Price Down 1.4% – Should You Sell?

Relmada Therapeutics, Inc. (NASDAQ:RLMD) fell 1.4% on Tuesday . The stock traded as low as $2.67 and last traded at $2.72. 154,366 shares changed hands during trading, a decline of 14% from the average session volume of 179,426 shares. The stock had previously closed at $2.76.

Analysts Set New Price Targets

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

Relmada Therapeutics Trading Up 6.6 %

The stock has a market capitalization of $87.50 million, a P/E ratio of -1.01 and a beta of 0.41. The stock has a 50 day moving average of $3.33 and a 200-day moving average of $3.22.

Insider Buying and Selling

In other news, CEO Sergio Traversa purchased 51,407 shares of the stock in a transaction on Wednesday, September 11th. The stock was bought at an average price of $2.99 per share, with a total value of $153,706.93. Following the transaction, the chief executive officer now owns 384,024 shares in the company, valued at $1,148,231.76. The trade was a 15.46 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles J. Casamento purchased 13,000 shares of the stock in a transaction on Monday, September 9th. The shares were purchased at an average cost 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. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 152,300 shares of company stock valued at $429,655. Insiders own 18.00% of the company’s stock.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in 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. Acadian Asset Management LLC lifted its position in Relmada Therapeutics by 1.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock worth $3,577,000 after acquiring an additional 12,147 shares during the period. State Board of Administration of Florida Retirement System acquired a new stake in Relmada Therapeutics during the 1st quarter worth about $70,000. SG Americas Securities LLC acquired a new stake in Relmada Therapeutics during the 1st quarter worth about $53,000. Finally, AdvisorShares Investments LLC lifted its position in Relmada Therapeutics by 28.5% during the 2nd quarter. AdvisorShares Investments LLC now owns 90,028 shares of the company’s stock worth $276,000 after acquiring an additional 19,975 shares during the period. Institutional investors and hedge funds own 45.24% of the company’s stock.

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.