Relmada Therapeutics, Inc. (NASDAQ:RLMD) Short Interest Down 34.8% in June

Relmada Therapeutics, Inc. (NASDAQ:RLMD) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,010,000 shares, a decline of 34.8% from the June 15th total of 1,550,000 shares. Based on an average daily volume of 104,700 shares, the short-interest ratio is presently 9.6 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Relmada Therapeutics in the first quarter valued at about $53,000. State Board of Administration of Florida Retirement System acquired a new position in Relmada Therapeutics in the first quarter valued at about $70,000. ADAR1 Capital Management LLC acquired a new position in Relmada Therapeutics in the fourth quarter valued at about $243,000. Vestal Point Capital LP acquired a new position in Relmada Therapeutics in the fourth quarter valued at about $476,000. Finally, Guild Investment Management Inc. grew its stake in Relmada Therapeutics by 3.3% in the fourth quarter. Guild Investment Management Inc. now owns 212,100 shares of the company’s stock valued at $878,000 after acquiring an additional 6,800 shares during the period. 45.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, The Goldman Sachs Group cut Relmada Therapeutics from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $3.00 to $2.00 in a research note on Wednesday, June 5th.

Relmada Therapeutics Stock Down 1.8 %

Shares of Relmada Therapeutics stock traded down $0.08 during trading on Friday, reaching $4.28. 10,521 shares of the company were exchanged, compared to its average volume of 190,964. Relmada Therapeutics has a twelve month low of $2.41 and a twelve month high of $7.22. The business has a 50-day moving average price of $3.24 and a 200-day moving average price of $4.13.

Relmada Therapeutics (NASDAQ:RLMD) last posted its earnings results on Wednesday, May 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.18. Research analysts predict that Relmada Therapeutics will post -3.04 EPS for the current year.

Relmada Therapeutics Company Profile

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.