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

Key Points

• Short interest surged 61.9% in March to 6,042,204 shares—about 7.3% of the float—with a short-interest ratio of 4.5 days, indicating elevated bearish positioning.
• Relmada missed quarterly estimates, reporting EPS of ($0.27) versus consensus of ($0.14), while shares traded around $7.38 (market cap ~$774M) and sit near their 12‑month high of $7.94.
• Analyst sentiment is mixed but tilted positive: the MarketBeat consensus is a “Moderate Buy” with a $12 price target, and some firms (e.g., Mizuho, Jefferies) have issued bullish ratings and higher targets.

Relmada Therapeutics, Inc. (NASDAQ:RLMD - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 6,042,204 shares, a growth of 61.9% from the March 15th total of 3,731,201 shares. Based on an average trading volume of 1,357,138 shares, the short-interest ratio is currently 4.5 days. Approximately 7.3% of the company's shares are sold short.

Institutional Trading of Relmada Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC acquired a new position in Relmada Therapeutics in the second quarter worth $120,000. Parsons Capital Management Inc. RI boosted its holdings in Relmada Therapeutics by 61.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 263,000 shares of the company's stock worth $1,270,000 after purchasing an additional 99,664 shares during the period. Marshall Wace LLP acquired a new position in Relmada Therapeutics in the second quarter worth $93,000. Virtu Financial LLC acquired a new position in Relmada Therapeutics in the fourth quarter worth $85,000. Finally, Jane Street Group LLC acquired a new position in Relmada Therapeutics in the second quarter worth $69,000. Institutional investors and hedge funds own 45.24% of the company's stock.

Relmada Therapeutics Stock Up 1.2%

Shares of RLMD traded up $0.09 during mid-day trading on Monday, reaching $7.38. 1,318,752 shares of the stock traded hands, compared to its average volume of 1,509,863. The firm has a market cap of $774.09 million, a price-to-earnings ratio of -5.09 and a beta of 0.44. The stock has a fifty day simple moving average of $5.37 and a 200 day simple moving average of $4.14. Relmada Therapeutics has a 12-month low of $0.27 and a 12-month high of $7.94.

Relmada Therapeutics (NASDAQ:RLMD - Get Free Report) last posted its quarterly earnings data 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). On average, equities research analysts expect that Relmada Therapeutics will post -2.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RLMD shares. Weiss Ratings restated a "sell (e+)" rating on shares of Relmada Therapeutics in a report on Wednesday, January 28th. Lucid Cap Mkts upgraded shares of Relmada Therapeutics to a "strong-buy" rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Relmada Therapeutics to a "hold" rating in a report on Tuesday, January 27th. 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 on the stock. Finally, Mizuho raised their price target on shares of Relmada Therapeutics from $10.00 to $19.00 and gave the company an "outperform" rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.