Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Growth in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 19,071 shares, a growth of 166.2% from the April 15th total of 7,163 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 62,411 shares, the short-interest ratio is presently 0.3 days.

Redhill Biopharma Stock Up 3.0%

Shares of RDHL stock opened at $1.02 on Friday. The firm has a 50 day moving average price of $0.89 and a two-hundred day moving average price of $1.06. The company has a market capitalization of $5.29 million, a PE ratio of 0.00 and a beta of 5.05. Redhill Biopharma has a 12-month low of $0.71 and a 12-month high of $3.31.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned approximately 0.54% of Redhill Biopharma at the end of the most recent quarter. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Redhill Biopharma Company Profile

RedHill Biopharma Ltd. is a specialty biopharmaceutical company focused on the development and commercialization of proprietary, orally-administered small molecules for the treatment of inflammatory, gastrointestinal and oncology indications. Founded in 2009 and headquartered in Tel Aviv, Israel, RedHill is publicly traded on the Nasdaq under the symbol RDHL. The company’s strategy centers on in-licensing late-stage clinical candidates and advancing them through regulatory review toward global commercialization.

RedHill’s lead marketed product, Talicia® (formerly RHB-105), is an FDA-approved, three-drug treatment for Helicobacter pylori infection, co-commercialized in the United States through a partnership with Bausch Health.