Redhill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 36.4% in June

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 14,178 shares, a decrease of 36.4% from the May 31st total of 22,308 shares. Based on an average trading volume of 737,816 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.3% of the shares of the company are sold short.

Redhill Biopharma Stock Performance

Redhill Biopharma stock traded down $0.00 during midday trading on Thursday, reaching $0.83. 33,258 shares of the company’s stock were exchanged, compared to its average volume of 335,027. The stock’s 50-day simple moving average is $0.94 and its 200 day simple moving average is $1.00. The firm has a market cap of $4.29 million, a price-to-earnings ratio of 0.00 and a beta of 4.98. Redhill Biopharma has a 52 week low of $0.71 and a 52 week high of $3.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC increased its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,102 shares of the biotechnology company’s stock after acquiring an additional 68,280 shares during the quarter. Gagnon Securities LLC owned about 1.68% of Redhill Biopharma worth $89,000 as of its most recent SEC filing. Institutional investors own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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