Relmada Therapeutics, Inc. (NASDAQ:RLMD) Short Interest Down 24.8% in February

Relmada Therapeutics, Inc. (NASDAQ:RLMD) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 836,254 shares, a decrease of 24.8% from the February 12th total of 1,111,415 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 658,665 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 658,665 shares, the short-interest ratio is currently 1.3 days. Approximately 1.4% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, CFO Maged Shenouda acquired 11,665 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was acquired at an average price of $4.12 per share, for a total transaction of $48,059.80. Following the completion of the acquisition, the chief financial officer owned 800,000 shares in the company, valued at $3,296,000. This trade represents a 1.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.70% of the stock is currently owned by insiders.

Institutional Trading of Relmada Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC raised its holdings in Relmada Therapeutics by 248.2% in the 4th quarter. Corient Private Wealth LLC now owns 719,582 shares of the company’s stock worth $3,443,000 after acquiring an additional 512,915 shares during the last quarter. Seven Fleet Capital Management LP purchased a new stake in Relmada Therapeutics during the 4th quarter valued at $744,000. Virtu Financial LLC bought a new stake in shares of Relmada Therapeutics in the 4th quarter worth $85,000. XTX Topco Ltd purchased a new position in shares of Relmada Therapeutics in the fourth quarter worth $199,000. Finally, Ikarian Capital LLC raised its stake in shares of Relmada Therapeutics by 66.5% in the fourth quarter. Ikarian Capital LLC now owns 3,068,359 shares of the company’s stock worth $14,820,000 after purchasing an additional 1,225,299 shares during the last quarter. 45.24% of the stock is currently owned by institutional investors.

Relmada Therapeutics Stock Down 3.9%

Shares of NASDAQ:RLMD traded down $0.24 on Friday, hitting $5.91. 1,265,968 shares of the company traded hands, compared to its average volume of 2,985,810. The stock has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $3.38. The company has a market cap of $433.38 million, a PE ratio of -3.28 and a beta of 0.72. Relmada Therapeutics has a 52 week low of $0.24 and a 52 week high of $7.51.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Leerink Partners upgraded shares of Relmada Therapeutics from a “market perform” rating to an “outperform” rating and set a $8.00 target price on the stock in a report on Friday, January 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Relmada Therapeutics in a research note on Wednesday, January 28th. Jefferies Financial Group initiated coverage on shares of Relmada Therapeutics in a research report on Monday, December 22nd. They set a “buy” rating and a $9.00 price target for the company. Zacks Research raised shares of Relmada Therapeutics to a “hold” rating in a research note on Tuesday, January 27th. Finally, Mizuho set a $10.00 price objective on shares of Relmada Therapeutics in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Relmada Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

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.