Short Interest in Relmada Therapeutics, Inc. (NASDAQ:RLMD) Decreases By 28.0%

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, a decrease of 28.0% from the February 13th total of 1,750,000 shares. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is presently 0.8 days. Approximately 5.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Relmada Therapeutics

Several large investors have recently added to or reduced their stakes in RLMD. Franklin Resources Inc. boosted its position in Relmada Therapeutics by 28.6% in the 3rd quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock valued at $4,362,000 after buying an additional 289,490 shares during the period. Tang Capital Management LLC raised its holdings in shares of 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 in the last quarter. AdvisorShares Investments LLC raised its holdings in shares of 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 in the last quarter. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 138,625 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Relmada Therapeutics by 99.9% during the 3rd 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 in the last quarter. 45.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on RLMD. Mizuho reaffirmed a “neutral” rating and set a $1.00 target price (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partners reaffirmed a “market perform” rating and set a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Finally, Leerink Partnrs cut shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Performance

Shares of NASDAQ:RLMD traded down $0.00 on Monday, reaching $0.29. The company’s stock had a trading volume of 140,935 shares, compared to its average volume of 537,314. Relmada Therapeutics has a 52-week low of $0.24 and a 52-week high of $5.84. The company has a 50-day simple moving average of $0.34 and a 200 day simple moving average of $1.75. The company has a market cap of $8.78 million, a P/E ratio of -0.10 and a beta of 0.65.

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.