Relmada Therapeutics, Inc. (NASDAQ:RLMD) Sees Significant Increase in Short Interest

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 1,750,000 shares, an increase of 108.8% from the January 31st total of 838,000 shares. Based on an average trading volume of 1,600,000 shares, the days-to-cover ratio is presently 1.1 days.

Institutional Investors Weigh In On Relmada Therapeutics

Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC purchased a new position in Relmada Therapeutics during the third quarter valued at approximately $32,000. FMR LLC boosted its stake in shares of Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock valued at $378,000 after buying an additional 26,185 shares during the period. Geode Capital Management LLC grew its holdings in shares of Relmada Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock valued at $987,000 after acquiring an additional 44,004 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Relmada Therapeutics by 99.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock worth $511,000 after acquiring an additional 78,779 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Relmada Therapeutics by 535.5% in the 4th quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock valued at $86,000 after buying an additional 138,625 shares in the last quarter. 45.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RLMD shares. Mizuho reaffirmed a “neutral” rating and issued a $1.00 price target (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partnrs cut shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Leerink Partners reissued a “market perform” rating and issued a $1.00 price objective (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Down 5.8 %

Relmada Therapeutics stock traded down $0.02 during mid-day trading on Friday, hitting $0.26. The company’s stock had a trading volume of 337,027 shares, compared to its average volume of 1,342,352. Relmada Therapeutics has a twelve month low of $0.26 and a twelve month high of $7.22. The stock’s fifty day moving average price is $0.37 and its two-hundred day moving average price is $1.92. The stock has a market capitalization of $7.85 million, a P/E ratio of -0.09 and a beta of 0.50.

About Relmada Therapeutics

Relmada Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing various products for the treatment of central nervous system diseases (CNS) and other disorders in the United States. Its lead product candidate is Esmethadone (d-methadone, dextromethadone, and REL-1017), a N-methyl-D-aspartate receptor antagonist which is in phase 3 clinical trial for the adjunctive or monotherapy treatment of major depressive disorder.