Relmada Therapeutics Inc. [RLMD] Investment Appeal on the Rise


Relmada Therapeutics Inc.’s recently made public that its Chief Medical Officer O’Gorman Cedric acquired Company’s shares for reported $31800.0 on May 23. In the deal valued at $3.18 per share,10,000 shares were bought. As a result of this transaction, O’Gorman Cedric now holds 10,121 shares worth roughly $ 38358.590000000004.

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Then, TRAVERSA SERGIO bought 55,250 shares, generating $115,804 in total proceeds. Upon buying the shares at $2.10, the Chief Executive Officer now owns 144,024 shares.

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 62.1 to its Friday closing price.

Price Performance Review of RLMD

On Friday, Relmada Therapeutics Inc. [NASDAQ:RLMD] saw its stock jump 12.13% to $3.79. On the same session, the stock had its day’s lowest price of $3.465, but rose to a high of $4.09. Over the last five days, the stock has gained 16.26%. Relmada Therapeutics Inc. shares have risen nearly 8.60% since the year began. Nevertheless, the stocks have fallen -86.99% over the past one year. While a 52-week high of $38.68 was reached on 01/18/23, a 52-week low of $1.81 was recorded on 03/24/23. SMA at 50 days reached $2.82, while 200 days put it at $3.22. A total of 0.27 million shares were traded, compared to the trading of 55300.0 shares in the previous session.

Levels Of Support And Resistance For RLMD Stock

The 24-hour chart illustrates a support level at 3.47, which if violated will result in even more drops to 3.16. On the upside, there is a resistance level at 4.10. A further resistance level may holdings at 4.41. The Relative Strength Index (RSI) on the 14-day chart is 70.18, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.73%. Stochastics %K at 70.84% 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 Aug 14, 2023, dropping by -0.26 million shares to a total of 0.69 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.95 million shares. There was a decline of -38.37%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.33% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.12.

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

In filings from Deep Track Capital LP, it is revealed that the company now owns 2,837,818 shares, or roughly 9.43% of the outstanding RLMD shares.. At present, Palo Alto Investors LP is holding 732,400 shares valued at $1.92 million. BlackRock Fund Advisors owned 591,314 shares of the company at the time of its most recent 13F filing, worth $1.55 million.

According to FactSet, Relmada Therapeutics Inc.’s share price will average $10.31 in the next year, based on opinions of analysts polled by the firm. This is up nearly 96.15 percent from its previous closing price of $3.38. Analysts expect Relmada Therapeutics Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $3.00. However, 5 analysts have rated RLMD stock as an Overweight in their predictions for 2023.


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