StockNews.com Begins Coverage on RedHill Biopharma (NASDAQ:RDHL)

StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note released on Tuesday morning. The firm issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Up 8.7 %

NASDAQ:RDHL opened at $0.38 on Tuesday. The stock’s 50-day simple moving average is $0.41 and its 200 day simple moving average is $0.53. RedHill Biopharma has a 52-week low of $0.26 and a 52-week high of $3.28.

Institutional Trading of RedHill Biopharma

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC lifted its stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 118,360 shares of the biotechnology company’s stock after acquiring an additional 28,771 shares during the quarter. Gagnon Securities LLC owned approximately 0.40% of RedHill Biopharma worth $63,000 as of its most recent SEC filing. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.