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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 1,260,000 shares, a drop 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 days-to-cover ratio is presently 0.8 days. Approximately 5.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research firms recently commented on RLMD. Mizuho reaffirmed a “neutral” rating and issued a $1.00 price objective (down from $23.00) on shares of Relmada Therapeutics in a research report on Thursday, December 5th. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down previously from $10.00) on shares of Relmada Therapeutics in a research note on Wednesday, December 4th. Finally, Leerink Partnrs lowered shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.25.

Relmada Therapeutics Stock Up 7.7 %

NASDAQ RLMD traded up $0.02 during trading hours on Friday, reaching $0.29. 1,048,569 shares of the company were exchanged, compared to its average volume of 538,850. The stock has a market capitalization of $8.83 million, a P/E ratio of -0.10 and a beta of 0.65. The business’s 50 day simple moving average is $0.34 and its 200-day simple moving average is $1.75. Relmada Therapeutics has a 1 year low of $0.24 and a 1 year high of $5.84.

Institutional Investors Weigh In On Relmada Therapeutics

Several hedge funds have recently bought and sold shares of RLMD. FMR LLC raised its holdings in 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 last quarter. HighTower Advisors LLC bought a new position in Relmada Therapeutics during the 3rd quarter valued at about $32,000. Jacobs Levy Equity Management Inc. lifted its stake in Relmada Therapeutics by 99.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock valued at $511,000 after acquiring an additional 78,779 shares during the period. Geode Capital Management LLC lifted its stake in shares of Relmada Therapeutics by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 304,502 shares of the company’s stock worth $987,000 after purchasing an additional 44,004 shares during the period. Finally, Franklin Resources Inc. lifted its stake 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 purchasing an additional 289,490 shares during the period. 45.24% of the stock is currently owned by institutional investors.

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.