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

Key Points

• Relmada Therapeutics shares rose 7.3%, trading as high as $3.93 and closing near $3.84, just above the 50-day moving average of $3.83. The stock remains below its 200-day average of $5.32.
• Analyst sentiment is mixed: Weiss Ratings reaffirmed a “sell (D-)” rating, while the broader analyst consensus is “Moderate Buy” with an average price target of $12.00.
• Insider and institutional activity was supportive, with the CFO purchasing 120,200 shares and institutional investors owning 45.24% of the company. Relmada’s latest quarterly loss of $0.11 per share beat expectations of a $0.20 loss.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report)'s stock price passed 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.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Relmada Therapeutics in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

Relmada Therapeutics Trading Up 7.3%

The business has a 50 day simple moving average of $3.83 and a two-hundred day simple moving average of $5.32. The company has a market cap of $409.61 million, a PE ratio of -4.27 and a beta of 0.51.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.09. On average, equities research analysts expect that Relmada Therapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Maged Shenouda acquired 120,200 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $504,840.00. Following the acquisition, the chief financial officer directly owned 920,200 shares in the company, valued at approximately $3,864,840. The trade was a 15.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jupiter Topco LLC purchased a new position in shares of Relmada Therapeutics in the 2nd quarter worth about $77,316,000. Janus Henderson Group PLC lifted its stake 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 valued at $76,892,000 after purchasing an additional 3,793,862 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at about $51,393,000. Spruce Street Capital LP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at about $44,227,990. Finally, Orbimed Advisors LLC grew its holdings in shares of Relmada Therapeutics by 80.6% during the 1st quarter. Orbimed Advisors LLC now owns 4,715,864 shares of the company's stock worth $32,822,000 after purchasing an additional 2,105,264 shares during the period. Institutional investors and hedge funds own 45.24% of the company's stock.

Relmada Therapeutics Company Profile

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.

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