RedHill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Drop in Short Interest

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,600 shares, a drop of 78.4% from the October 15th total of 7,400 shares. Based on an average trading volume of 69,300 shares, the short-interest ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

RedHill Biopharma Stock Performance

Shares of RedHill Biopharma stock traded down $0.13 during midday trading on Wednesday, hitting $7.05. The company had a trading volume of 8,609 shares, compared to its average volume of 114,662. The company has a 50 day moving average of $8.83 and a 200 day moving average of $152.38. RedHill Biopharma has a 52-week low of $6.80 and a 52-week high of $82.00.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC boosted its holdings in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to its most recent filing 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 period. Gagnon Securities LLC owned 0.40% of RedHill Biopharma worth $63,000 as of its most recent SEC filing. 7.20% of the stock is owned by institutional investors and hedge funds.

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.