As of Wednesday close, Relmada Therapeutics Inc.’s (NASDAQ:RLMD) stock was up $0.17, moving up 6.09 percent to $2.96. The average number of shares traded per day over the past five days has been 727,700 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.37 fall in that time frame. In the last twenty days, the average volume was 249,145, while in the previous 50 days, it was 156,006.
Since last month, RLMD stock retreated -1.33%. Shares of the company fell to $2.75 on 09/19/23, the lowest level in the past month. A 52-week high of $38.68 was reached on 01/18/23 after having rallying from a 52-week low of $1.81. Since the beginning of this year, RLMD’s stock price has dropped by -15.19% or -$0.53, and marked a new high 7 times. However, the stock has declined by -92.35% since its 52-week high.
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RLMD stock investors should be aware that Relmada Therapeutics Inc. (RLMD) stock had its last reported insider trading activity 121 days ago on May 23. O’Gorman Cedric, the Chief Medical Officer of the company, purchased of 10,000 shares for $3.18 on May 23. It resulted in a $31,800 investment by the insider. TRAVERSA SERGIO added 55,250 shares at an average price of $2.10 on Dec 08. The insider now owns 144,024 shares following the transaction.
Financial Health
In the three months ended June 29, Relmada Therapeutics Inc.’s quick ratio stood at 11.40, while its current ratio was 11.40, showing that the company is able to pay off its debt.
While analysts expected Relmada Therapeutics Inc. to report -$0.9 quarterly earnings, the actual figure was -$0.84 per share, beating the consensus estimate by 6.70%. The liabilities of Relmada Therapeutics Inc. were 10.7 million at the end of its most recent quarter ended June 29. The value of shareholders’ equity is $30.1 million.
Technical Picture
This quick technical analysis looks at Relmada Therapeutics Inc.’s (RLMD) price momentum. With a historical volatility rate of 54.82%, the RSI 9-day stood at 37.53% on 20 September.
With respect to its five-day moving average, the current Relmada Therapeutics Inc. price is down by -11.11% percent or -$0.37. At present, RLMD shares trade -2.31% below its 20-day simple moving average and +8.03% percent above its 100-day simple moving average. However, the stock is currently trading approximately +9.63% above its SMA50 and -35.65% below its SMA200.
Stochastic coefficient K was 6.80% and Stochastic coefficient D was 6.25%, while ATR was 0.32. Given the Stochastic reading of 15.67% for the 14-day period, the RSI (14) reading has been calculated as 42.98%. As of today, the MACD Oscillator reading stands at -0.30, while the 14-day reading stands at -0.45.
Analyst Ratings
Relmada Therapeutics Inc. downgraded its rating on Relmada Therapeutics Inc. (NASDAQ: RLMD) to a Hold in a note to investors on October 14, 2022. The analysts firm previously had a Buy rating on the stock.Relmada Therapeutics Inc. (RLMD) has been rated Overweight by analysts. According to 0 brokerage firms, RLMD is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Relmada Therapeutics Inc. stock as buy, with 2 recommending it as overweight.
With a median target price of $6.63, the current consensus forecast for the stock is $3.00 – $25.00. Based on these forecasts, analysts predict Relmada Therapeutics Inc. (RLMD) will achieve an average price target of $10.31.
