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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the recipient of a significant decrease in short interest in 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. Currently, 5.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Relmada Therapeutics

Hedge funds have recently modified their holdings of the business. HighTower Advisors LLC acquired a new stake in shares of Relmada Therapeutics in the third quarter valued at about $32,000. FMR LLC raised its position in shares of Relmada Therapeutics by 29.0% in the third 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. Jacobs Levy Equity Management Inc. raised its position in shares of 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 buying an additional 78,779 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of 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 buying an additional 138,625 shares during the last quarter. Finally, Tang Capital Management LLC raised its position in shares of 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 buying an additional 150,000 shares during the last quarter. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Trading Down 0.6 %

NASDAQ:RLMD traded down $0.00 during trading hours on Monday, reaching $0.29. 140,935 shares of the company were exchanged, compared to its average volume of 537,314. The stock’s 50-day moving average is $0.34 and its 200-day moving average is $1.75. The firm has a market cap of $8.78 million, a PE ratio of -0.10 and a beta of 0.65. Relmada Therapeutics has a twelve month low of $0.24 and a twelve month high of $5.84.

Wall Street Analyst Weigh In

RLMD has been the topic of a number of recent analyst reports. Leerink Partners reissued a “market perform” rating and set a $1.00 price target (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Mizuho reissued a “neutral” rating and set a $1.00 price target (down from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Finally, Leerink Partnrs downgraded shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.