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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the recipient of a large decrease in short interest during 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 trading volume of 1,630,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 5.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLMD. Franklin Resources Inc. boosted its position in shares of Relmada Therapeutics by 28.6% during the third quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock worth $4,362,000 after buying an additional 289,490 shares during the period. Geode Capital Management LLC raised its stake in Relmada Therapeutics by 16.9% in the third quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock valued at $987,000 after buying an additional 44,004 shares in the last quarter. AdvisorShares Investments LLC raised its stake in Relmada Therapeutics by 206.5% in the fourth quarter. AdvisorShares Investments LLC now owns 210,068 shares of the company’s stock valued at $109,000 after buying an additional 141,540 shares in the last quarter. Tang Capital Management LLC grew its holdings in shares of Relmada Therapeutics by 295.1% during the fourth quarter. Tang Capital Management LLC now owns 200,825 shares of the company’s stock worth $104,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Relmada Therapeutics by 535.5% during the fourth quarter. Renaissance Technologies LLC now owns 164,513 shares of the company’s stock worth $86,000 after purchasing an additional 138,625 shares during the last quarter. 45.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RLMD shares. Mizuho restated a “neutral” rating and issued a $1.00 target price (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partnrs lowered 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 target (down from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.25.

Relmada Therapeutics Stock Up 7.7 %

Shares of Relmada Therapeutics stock traded up $0.02 during mid-day trading on Friday, reaching $0.29. 1,048,569 shares of the stock traded hands, compared to its average volume of 538,850. The business has a 50-day moving average of $0.34 and a 200 day moving average of $1.75. Relmada Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $5.84. The stock has a market capitalization of $8.83 million, a PE 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.