Redhill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 32.8% in March

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 19,232 shares, a decline of 32.8% from the February 26th total of 28,626 shares. Based on an average daily trading volume, of 34,499 shares, the short-interest ratio is presently 0.6 days. Approximately 0.4% of the company’s stock are short sold.

Redhill Biopharma Stock Down 0.7%

Shares of RDHL traded down $0.01 during mid-day trading on Monday, hitting $0.74. 51,132 shares of the company traded hands, compared to its average volume of 25,411. Redhill Biopharma has a 1-year low of $0.71 and a 1-year high of $3.31. The company has a market capitalization of $3.81 million, a PE ratio of 0.00 and a beta of 4.91. The business has a 50 day moving average of $1.01 and a 200 day moving average of $1.25.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently bought a new stake in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned about 0.54% of Redhill Biopharma as of its most recent filing with the SEC. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Redhill Biopharma in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

About Redhill Biopharma

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.