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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,750,000 shares, an increase 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 presently 1.1 days.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tang Capital Management LLC increased its holdings in Relmada Therapeutics by 295.1% in the fourth 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 increased its holdings 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 purchasing an additional 141,540 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Relmada Therapeutics by 535.5% in the fourth 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. Franklin Resources Inc. increased its holdings in Relmada Therapeutics by 28.6% in the third quarter. Franklin Resources Inc. now owns 1,302,151 shares of the company’s stock valued at $4,362,000 after purchasing an additional 289,490 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 44,004 shares during the last quarter. Institutional investors own 45.24% of the company’s stock.

Relmada Therapeutics Price Performance

Shares of RLMD stock traded down $0.02 on Friday, reaching $0.26. 337,027 shares of the stock were exchanged, compared to its average volume of 1,342,352. The stock has a market cap of $7.85 million, a PE ratio of -0.09 and a beta of 0.50. Relmada Therapeutics has a one year low of $0.26 and a one year high of $7.22. The stock has a 50 day moving average price of $0.37 and a 200 day moving average price of $1.93.

Wall Street Analyst Weigh In

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

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.