The Potential Rise in the Price of Relmada Therapeutics Inc. (RLMD) following insiders activity


Relmada Therapeutics Inc.’s filing revealed that its Chief Executive Officer TRAVERSA SERGIO unloaded Company’s shares for reported $0.25 million on Jul 01. In the deal valued at $18.41 per share,13,755 shares were sold. As a result of this transaction, TRAVERSA SERGIO now holds 88,774 shares worth roughly $ 0.56 million.

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Then, TRAVERSA SERGIO sold 16,012 shares, generating $306,301 in total proceeds. Upon selling the shares at $19.13, the Chief Executive Officer now owns 88,774 shares.

Before that, Kelly Paul Edward sold 10,000 shares. Relmada Therapeutics Inc. shares valued at $300,395 were divested by the Director at a price of $30.04 per share. As a result of the transaction, Kelly Paul Edward now holds 187,295 shares, worth roughly $1.19 million.

Truist downgraded its Relmada Therapeutics Inc. [RLMD] rating to a Hold from a a Buy in a research note published on Friday, October 14, 2022; the price target was decreased to $10 from $90. PT values the company’s stock at a premium of 36.4 to its Friday closing price. A number of analysts have revised their coverage, including Guggenheim’s analysts, who decreased its forecast for the stock in mid October from “a Buy” to “a Neutral”. Goldman also remained covering RLMD and has decreased its forecast on October 14, 2022 with a “Neutral” recommendation from previously “Buy” rating. Oppenheimer revised its rating on October 13, 2022. It rated RLMD as “a Perform” which previously was an “an Outperform”.

Price Performance Review of RLMD

On Friday, Relmada Therapeutics Inc. [NASDAQ:RLMD] saw its stock fall -5.07% to $6.36. On the same session, the stock had its day’s lowest price of $6.15, but rose to a high of $6.72. Over the last five days, the stock has lost -2.90%. Relmada Therapeutics Inc. shares have fallen nearly -71.77% since the year began. Nevertheless, the stocks have fallen -74.94% over the past one year. While a 52-week high of $38.68 was reached on 09/30/22, a 52-week low of $5.93 was recorded on 10/14/22. SMA at 50 days reached $23.68, while 200 days put it at $22.63. A total of 0.65 million shares were traded, compared to the trading of 0.53 million shares in the previous session.

Levels Of Support And Resistance For RLMD Stock

The 24-hour chart illustrates a support level at 6.10, which if violated will result in even more drops to 5.84. On the upside, there is a resistance level at 6.67. A further resistance level may holdings at 6.98. The Relative Strength Index (RSI) on the 14-day chart is 23.20, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.35, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.50%. Stochastics %K at 21.81% indicates the stock is a holding.

How much short interest is there in Relmada Therapeutics Inc.?

A steep rise in short interest was recorded in Relmada Therapeutics Inc. stocks on Jul 14, 2022, growing by 0.42 million shares to a total of 3.09 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.67 million shares. There was a rise of 13.59%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.41% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.97.

Relmada Therapeutics Inc. [RLMD] – Who Are The Largest Shareholders?

In filings from RTW Investments LP, it is revealed that the company now owns 2,637,581 shares, or roughly 8.77% of the outstanding RLMD shares. In other words, the investor’s shares have risen by 97,507 from its previous 13-F filing of 2540074.0. Additionally, Deep Track Capital LP increased 396.20% of its stake after which the total value it holdings stand at $91,846,620, while Perceptive Advisors LLC added 1,630.49% of its stake to hold $77.74 million in the firm. Over the last quarter, Point72 Asset Management LP purchased 759,890 shares of Relmada Therapeutics Inc., while RA Capital Management LP bought 0 shares. At present, BlackRock Fund Advisors is holding 1,843,997 shares valued at $68.26 million. BVF Partners LP owned 1,659,220 shares of the company at the time of its most recent 13F filing, worth $61.42 million.

The most recent change occurred on November 18, 2021 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $50 price target.


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