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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 3,731,201 shares, a growth of 346.2% from the February 26th total of 836,254 shares. Based on an average daily volume of 5,015,092 shares, the short-interest ratio is currently 0.7 days. Approximately 6.4% of the shares of the stock are short sold. Approximately 6.4% of the shares of the stock are short sold. Based on an average daily volume of 5,015,092 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

RLMD has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Relmada Therapeutics in a report on Monday, December 22nd. They issued a “buy” rating and a $9.00 price target for the company. Leerink Partners raised Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 price objective on the stock in a report on Friday, January 23rd. Lucid Cap Mkts raised Relmada Therapeutics to a “strong-buy” rating in a research note on Monday, March 2nd. Piper Sandler initiated coverage on Relmada Therapeutics in a research report on Tuesday. They set an “overweight” rating and a $12.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Institutional Trading of Relmada Therapeutics

A number of hedge funds have recently modified their holdings of RLMD. Schonfeld Strategic Advisors LLC bought a new position in Relmada Therapeutics during the 4th quarter worth approximately $64,000. Virtu Financial LLC acquired a new stake in Relmada Therapeutics in the fourth quarter worth $85,000. Jefferies Financial Group Inc. acquired a new stake in Relmada Therapeutics in the fourth quarter worth $105,000. Graham Capital Management L.P. bought a new position in shares of Relmada Therapeutics during the fourth quarter worth $124,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Relmada Therapeutics during the fourth quarter worth $127,000. 45.24% of the stock is currently owned by institutional investors and hedge funds.

Relmada Therapeutics Trading Up 4.1%

NASDAQ RLMD opened at $6.10 on Wednesday. Relmada Therapeutics has a 12 month low of $0.24 and a 12 month high of $7.51. The stock has a 50-day simple moving average of $4.58 and a 200 day simple moving average of $3.66. The company has a market capitalization of $447.31 million, a PE ratio of -4.21 and a beta of 0.72.

Relmada Therapeutics (NASDAQ:RLMD) last issued its earnings results on Thursday, March 19th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.13). As a group, sell-side analysts predict that Relmada Therapeutics will post -2.73 earnings per share for the current fiscal year.

Relmada Therapeutics Company Profile

Relmada Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the development of novel therapies for pain and other central nervous system (CNS) disorders. The company applies a proprietary stereochemical approach to optimized drug candidates, aiming to improve safety, tolerability and efficacy profiles compared with existing treatments. Relmada’s research efforts center on modulation of NMDA receptors to address unmet needs in depression, neuropathic pain and related indications.

Relmada’s lead product candidate, REL-1017 (d-methadone), is being evaluated as a potential rapid-acting and maintenance treatment for major depressive disorder, with clinical studies underway to assess its utility in both acute and long-term settings.