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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 1,260,000 shares, a decline of 28.0% from the February 13th total of 1,750,000 shares. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is currently 0.8 days. Currently, 5.1% of the company’s stock are short sold.

Relmada Therapeutics Trading Up 2.1 %

Shares of Relmada Therapeutics stock traded up $0.01 on Tuesday, hitting $0.30. The stock had a trading volume of 116,259 shares, compared to its average volume of 536,218. The company’s 50 day moving average price is $0.33 and its 200 day moving average price is $1.73. The stock has a market cap of $9.08 million, a price-to-earnings ratio of -0.10 and a beta of 0.65. Relmada Therapeutics has a 52-week low of $0.24 and a 52-week high of $5.84.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors have recently modified their holdings of RLMD. HighTower Advisors LLC purchased a new position in Relmada Therapeutics during the 3rd quarter worth $32,000. FMR LLC increased its stake in shares of Relmada Therapeutics by 29.0% during the third quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after acquiring an additional 26,185 shares during the period. Geode Capital Management LLC increased its stake in shares of Relmada Therapeutics by 16.9% during the third quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock worth $987,000 after acquiring an additional 44,004 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Relmada Therapeutics by 99.9% in the third 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 period. Finally, Renaissance Technologies LLC boosted its holdings 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 in the last quarter. 45.24% of the stock is owned by institutional investors and hedge funds.

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.