Redhill Biopharma (NASDAQ:RDHL) Stock Crosses Below 200-Day Moving Average – What’s Next?

Redhill Biopharma Ltd. (NASDAQ:RDHL)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.95 and traded as low as $0.63. Redhill Biopharma shares last traded at $0.6333, with a volume of 20,220 shares changing hands.

Analysts Set New Price Targets

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

Redhill Biopharma Trading Down 5.2%

The firm’s 50-day moving average price is $0.85 and its 200 day moving average price is $0.95. The company has a market capitalization of $3.85 million, a price-to-earnings ratio of 0.00 and a beta of 4.98.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC boosted its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,102 shares of the biotechnology company’s stock after purchasing an additional 68,280 shares during the period. Gagnon Securities LLC owned about 1.68% of Redhill Biopharma worth $89,000 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.