Relmada Therapeutics, Inc. (NASDAQ:RLMD) Short Interest Down 28.0% in February

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a large decline in short interest in 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 volume of 1,630,000 shares, the short-interest ratio is currently 0.8 days. Approximately 5.1% of the shares of the stock are sold short.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC acquired a new position in shares of Relmada Therapeutics during the 3rd quarter worth approximately $32,000. Renaissance Technologies LLC raised its holdings 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 worth $86,000 after acquiring an additional 138,625 shares during the last quarter. Tang Capital Management LLC raised its holdings 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 worth $104,000 after acquiring an additional 150,000 shares during the last quarter. AdvisorShares Investments LLC lifted its position in shares of 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 acquiring an additional 141,540 shares in the last quarter. Finally, FMR LLC boosted 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 valued at $378,000 after acquiring an additional 26,185 shares during the last quarter. Hedge funds and other institutional investors own 45.24% of the company’s stock.

Wall Street Analyst Weigh In

RLMD has been the subject of a number of research analyst reports. Mizuho reiterated a “neutral” rating and issued a $1.00 price target (down previously from $23.00) on shares of Relmada Therapeutics in a report on Thursday, December 5th. Leerink Partners reaffirmed a “market perform” rating and issued a $1.00 target price (down from $10.00) on shares of Relmada Therapeutics in a report on Wednesday, December 4th. Finally, Leerink Partnrs downgraded shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Relmada Therapeutics presently has an average rating of “Hold” and a consensus target price of $4.25.

Relmada Therapeutics Stock Up 2.1 %

Shares of Relmada Therapeutics stock traded up $0.01 on Tuesday, hitting $0.30. The company’s stock had a trading volume of 116,259 shares, compared to its average volume of 536,218. The firm has a fifty day moving average price of $0.33 and a 200-day moving average price of $1.73. Relmada Therapeutics has a 52-week low of $0.24 and a 52-week high of $5.84. The company has a market capitalization of $9.08 million, a P/E 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.