Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Declines By 73.5%

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 7,400 shares, a decline of 73.5% from the September 30th total of 27,900 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 320,800 shares, the days-to-cover ratio is presently 0.0 days.

RedHill Biopharma Price Performance

RDHL traded up $0.28 during trading hours on Friday, hitting $8.27. 6,140 shares of the company’s stock were exchanged, compared to its average volume of 120,866. RedHill Biopharma has a 12-month low of $6.80 and a 12-month high of $82.00. The firm has a 50 day moving average of $12.29 and a 200 day moving average of $178.04.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on RedHill Biopharma in a research report on Saturday, August 24th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC lifted its stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,360 shares of the biotechnology company’s stock after buying an additional 28,771 shares during the quarter. Gagnon Securities LLC owned approximately 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent reporting period. Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

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.