Relmada Therapeutics Inc. (NASDAQ: RLMD) stock fell -7.08% on Wednesday to $5.25 against a previous-day closing price of $5.65. With 0.42 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.04 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $5.74 whereas the lowest price it dropped to was $5.22. The 52-week range on RLMD shows that it touched its highest point at $38.68 and its lowest point at $5.46 during that stretch. It currently has a 1-year price target of $17.42. Beta for the stock currently stands at 0.07.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RLMD was down-trending over the past week, with a drop of -9.17%, but this was down by -26.06% over a month. Three-month performance dropped to -83.11% while six-month performance fell -72.67%. The stock lost -72.37% in the past year, while it has lost -76.70% so far this year. A look at the trailing 12-month EPS for RLMD yields -5.84 with Next year EPS estimates of -6.25. For the next quarter, that number is -1.34. This implies an EPS growth rate of -87.90% for this year and 25.80% for next year.
Float and Shares Shorts:
At present, 30.06 million RLMD shares are outstanding with a float of 29.70 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.35 million, which was 11.70% higher than short shares on Sep 14, 2022. In addition to Dr. Sergio Traversa M.B.A., MBA, Pharm.D., PharmD as the firm’s CEO & Director, Mr. Maged S. Shenouda M.B.A., MBA, R.Ph, R.Ph. serves as its Chief Financial Officer.
Through their ownership of 100.57% of RLMD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 75.07% of RLMD, in contrast to 15.84% held by mutual funds. Shares owned by individuals account for 1.54%. As the largest shareholder in RLMD with 8.80% of the stake, RTW Investments LP holds 2,644,475 shares worth 2,644,475. A second-largest stockholder of RLMD, Deep Track Capital LP, holds 2,481,000 shares, controlling over 8.25% of the firm’s shares. Perceptive Advisors LLC is the third largest shareholder in RLMD, holding 2,383,478 shares or 7.93% stake. With a 3.01% stake in RLMD, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 904,705 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.01% of RLMD stock, is the second-largest Mutual Fund holder. It holds 602,907 shares valued at 3.85 million. Vanguard Extended Market Index Fu holds 1.18% of the stake in RLMD, owning 353,605 shares worth 2.26 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RLMD since 7 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RLMD analysts setting a high price target of $42.00 and a low target of $6.50, the average target price over the next 12 months is $17.42. Based on these targets, RLMD could surge 700.0% to reach the target high and rise by 23.81% to reach the target low. Reaching the average price target will result in a growth of 231.81% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RLMD will report FY 2022 earnings on 03/22/2023. Analysts have provided yearly estimates in a range of -$5.27 being high and -$5.44 being low. For RLMD, this leads to a yearly average estimate of -$5.37. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Relmada Therapeutics Inc. surprised analysts by $0.14 when it reported -$1.31 EPS against a consensus estimate of -$1.45. The surprise factor in the prior quarter was -$0.06. Based on analyst estimates, the high estimate for the next quarter is -$1.22 and the low estimate is -$1.40. The average estimate for the next quarter is thus -$1.33.
Summary of Insider Activity:
Insiders traded RLMD stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 4 while that of sell transactions has risen to 13 over the past year. The total number of shares bought during that period was 59,567 while 79,567 shares were sold.