Relmada Therapeutics, Inc. (NASDAQ:RLMD) Short Interest Up 108.8% in February

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the recipient of a significant 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 short-interest ratio is presently 1.1 days.

Relmada Therapeutics Stock Down 5.8 %

NASDAQ:RLMD traded down $0.02 during midday trading on Friday, reaching $0.26. The stock had a trading volume of 337,027 shares, compared to its average volume of 1,342,352. Relmada Therapeutics has a 12-month low of $0.26 and a 12-month high of $7.22. The stock has a market cap of $7.85 million, a P/E ratio of -0.09 and a beta of 0.50. The firm has a fifty day simple moving average of $0.37 and a two-hundred day simple moving average of $1.92.

Analysts Set New Price Targets

RLMD has been the subject of a number of recent analyst reports. Mizuho reiterated a “neutral” rating and set a $1.00 price target (down from $23.00) on shares of Relmada Therapeutics in a research report on Thursday, December 5th. Leerink Partners restated a “market perform” rating and set a $1.00 price target (down from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday, December 4th. Finally, Leerink Partnrs cut Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.25.

Hedge Funds Weigh In On Relmada Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC purchased a new stake in Relmada Therapeutics in the 3rd quarter worth approximately $32,000. FMR LLC grew 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 purchasing an additional 26,185 shares during the period. Geode Capital Management LLC grew its position in shares of 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 period. Jacobs Levy Equity Management Inc. increased its stake in 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 purchasing an additional 78,779 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in 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 buying an additional 138,625 shares during the period. 45.24% of the stock is owned by institutional investors and hedge funds.

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.