Insider Buying: CFO Maged Shenouda Acquires Shares of Relmada Therapeutics Inc (RLMD)
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On September 11, 2024, Maged Shenouda, the Chief Financial Officer of Relmada Therapeutics Inc (NASDAQ:RLMD), purchased 53,432 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 88,335 shares of Relmada Therapeutics Inc.
Relmada Therapeutics Inc is a clinical-stage biotechnology firm focused on developing novel therapies for the treatment of central nervous system (CNS) diseases. The company's strategic initiatives aim to address significant treatment gaps for patients suffering from a range of CNS disorders.
The transaction occurred with shares priced at $2.8, valuing the purchase at approximately $149,609.6. This acquisition has increased the insider's stake significantly, reflecting a strong commitment to the company's future. Over the past year, Maged Shenouda has purchased a total of 86,107 shares and has not sold any shares.
The insider transaction history at Relmada Therapeutics Inc shows a pattern of insider confidence, with 7 insider buys and no insider sells over the past year. This trend suggests a positive outlook among the company's insiders about its future prospects.
Currently, the stock has a market cap of $91.126 million. Investors and analysts monitor insider buying as it can provide insights into how executives view the company's valuation and future performance.
For more detailed valuation metrics such as GF Value, price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, investors can explore further on GuruFocus.
This insider purchase could be a key indicator for investors when considering their own stakes in Relmada Therapeutics Inc, as insider transactions can often precede future developments or financial performance of the company.
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This article first appeared on GuruFocus.