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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 1,250,000 shares, a drop of 24.2% from the December 31st total of 1,650,000 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is presently 1.3 days.

Relmada Therapeutics Price Performance

RLMD stock traded down $0.01 during mid-day trading on Friday, reaching $0.35. The company had a trading volume of 341,645 shares, compared to its average volume of 549,269. The stock has a 50 day simple moving average of $0.76 and a two-hundred day simple moving average of $2.36. The company has a market capitalization of $10.53 million, a price-to-earnings ratio of -0.12 and a beta of 0.51. Relmada Therapeutics has a 52 week low of $0.34 and a 52 week high of $7.22.

Relmada Therapeutics (NASDAQ:RLMD) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.07). During the same quarter in the previous year, the company posted ($0.73) earnings per share. On average, equities analysts predict that Relmada Therapeutics will post -2.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RLMD shares. Mizuho reissued a “neutral” rating and issued a $1.00 target price (down previously from $23.00) on shares of Relmada Therapeutics in a research report on Thursday, December 5th. Leerink Partnrs lowered Relmada Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, Leerink Partners reissued a “market perform” rating and issued a $1.00 target price (down previously from $10.00) on shares of Relmada Therapeutics in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.25.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC bought a new position in shares of Relmada Therapeutics during the 3rd quarter worth approximately $32,000. American Century Companies Inc. boosted its stake in shares of Relmada Therapeutics by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 31,618 shares of the company’s stock worth $95,000 after acquiring an additional 4,027 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Relmada Therapeutics by 153.6% during the 2nd quarter. Renaissance Technologies LLC now owns 88,775 shares of the company’s stock worth $266,000 after acquiring an additional 53,767 shares during the period. FMR LLC boosted its stake in shares of Relmada Therapeutics by 29.0% during the 3rd quarter. FMR LLC now owns 116,544 shares of the company’s stock worth $378,000 after acquiring an additional 26,185 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Relmada Therapeutics by 99.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 157,672 shares of the company’s stock worth $511,000 after acquiring an additional 78,779 shares during the period. 45.24% of the stock is currently owned by institutional investors.

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.