Relmada Therapeutics, Inc. (NASDAQ:RLMD) Short Interest Update

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

Relmada Therapeutics Price Performance

Shares of RLMD traded down $0.02 during trading hours on Friday, hitting $0.26. The stock had a trading volume of 337,027 shares, compared to its average volume of 1,342,352. Relmada Therapeutics has a 52 week low of $0.26 and a 52 week high of $7.22. The stock has a market capitalization of $7.85 million, a price-to-earnings ratio of -0.09 and a beta of 0.50. The company’s fifty day moving average is $0.37 and its two-hundred day moving average is $1.93.

Analysts Set New Price Targets

A number of brokerages recently commented on RLMD. Leerink Partnrs lowered Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. Leerink Partners restated a “market perform” rating and issued a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday, December 4th. Finally, Mizuho restated a “neutral” rating and issued a $1.00 target price (down from $23.00) on shares of Relmada Therapeutics in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $4.25.

Institutional Trading of Relmada Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in shares of Relmada Therapeutics by 28.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after acquiring an additional 289,490 shares in the last quarter. Tang Capital Management LLC raised its position in Relmada Therapeutics by 295.1% in the 4th quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock valued at $104,000 after purchasing an additional 150,000 shares during the last quarter. AdvisorShares Investments LLC raised its position in Relmada Therapeutics by 206.5% in the 4th quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock valued at $109,000 after purchasing an additional 141,540 shares during the last quarter. Renaissance Technologies LLC raised its position in 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 purchasing an additional 138,625 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Relmada Therapeutics by 99.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after purchasing an additional 78,779 shares during the last quarter. 45.24% of the stock is owned by institutional investors.

Relmada Therapeutics Company Profile

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.