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

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant increase in short interest in December. As of December 15th, there was short interest totaling 980,736 shares, an increase of 26.9% from the November 30th total of 772,889 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average trading volume of 1,087,977 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 1,087,977 shares, the short-interest ratio is presently 0.9 days. Currently, 1.7% of the company’s stock are short sold.

Relmada Therapeutics Trading Up 6.6%

RLMD opened at $4.83 on Friday. Relmada Therapeutics has a 12-month low of $0.24 and a 12-month high of $5.12. The firm has a 50 day moving average of $3.83 and a two-hundred day moving average of $2.07. The firm has a market capitalization of $354.18 million, a PE ratio of -2.68 and a beta of 0.77.

Relmada Therapeutics (NASDAQ:RLMD) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.26). As a group, analysts predict that Relmada Therapeutics will post -2.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RLMD shares. Mizuho upgraded Relmada Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $1.00 to $10.00 in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Relmada Therapeutics in a research report on Friday, October 31st. Jefferies Financial Group started 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. Finally, Wall Street Zen upgraded shares of Relmada Therapeutics to a “hold” rating in a research note on Saturday, October 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Relmada Therapeutics currently has an average rating of “Hold” and a consensus price target of $9.50.

Insider Buying and Selling at Relmada Therapeutics

In other news, CFO Maged Shenouda purchased 11,665 shares of the business’s stock in a transaction on Monday, December 15th. The shares were acquired at an average cost of $4.12 per share, with a total value of $48,059.80. Following the completion of the acquisition, the chief financial officer owned 800,000 shares of the company’s stock, valued at $3,296,000. This trade represents a 1.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Paul Edward Kelly acquired 90,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average price of $2.20 per share, with a total value of $198,000.00. Following the acquisition, the chief operating officer owned 502,295 shares in the company, valued at approximately $1,105,049. The trade was a 21.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 737,665 shares of company stock worth $1,645,260 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Hedge Funds Weigh In On Relmada Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new position in Relmada Therapeutics during the second quarter valued at approximately $28,000. Goldman Sachs Group Inc. acquired a new stake in shares of Relmada Therapeutics during the 1st quarter worth approximately $33,000. LMR Partners LLP acquired a new stake in shares of Relmada Therapeutics during the 2nd quarter worth approximately $33,000. Jane Street Group LLC purchased a new position in shares of Relmada Therapeutics during the 2nd quarter valued at approximately $69,000. Finally, Marshall Wace LLP acquired a new position in shares of Relmada Therapeutics in the 2nd quarter valued at $93,000. Institutional investors and hedge funds own 45.24% of the company’s stock.

About Relmada Therapeutics

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.