Relmada Therapeutics, Inc. (NASDAQ:RLMD) Sees Large Growth in Short Interest

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 1,780,000 shares, a growth of 67.9% from the November 30th total of 1,060,000 shares. Based on an average trading volume of 769,800 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RLMD shares. Jefferies Financial Group raised Relmada Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $3.50 to $13.00 in a research report on Tuesday, September 17th. Mizuho reissued a “neutral” rating and set a $1.00 target price (down from $23.00) on shares of Relmada Therapeutics in a research report on Thursday, December 5th. Leerink Partners reaffirmed 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. Finally, Leerink Partnrs lowered shares of Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a 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 issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.25.

Institutional Investors Weigh In On Relmada Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Relmada Therapeutics by 28.6% in the third 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 in the last quarter. Acadian Asset Management LLC grew its position in shares of Relmada Therapeutics by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,193,333 shares of the company’s stock worth $3,577,000 after acquiring an additional 12,147 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $987,000 after acquiring an additional 44,004 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Relmada Therapeutics by 99.9% in 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 last quarter. Finally, FMR LLC raised its position in shares of 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 acquiring an additional 26,185 shares in the last quarter. Institutional investors and hedge funds own 45.24% of the company’s stock.

Relmada Therapeutics Stock Up 5.7 %

Shares of Relmada Therapeutics stock traded up $0.02 on Friday, hitting $0.38. 1,243,977 shares of the company’s stock traded hands, compared to its average volume of 347,208. Relmada Therapeutics has a 52-week low of $0.34 and a 52-week high of $7.22. The stock has a market cap of $11.56 million, a P/E ratio of -0.13 and a beta of 0.35. The firm’s 50-day moving average is $2.21 and its 200 day moving average is $2.87.

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.