RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Update

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 741,500 shares, a decline of 18.2% from the March 31st total of 906,900 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on RedHill Biopharma in a research report on Friday. They set a “hold” rating on the stock.

RedHill Biopharma Trading Up 2.8 %

Shares of RedHill Biopharma stock traded up $0.01 during trading hours on Friday, reaching $0.43. The company’s stock had a trading volume of 220,476 shares, compared to its average volume of 356,512. RedHill Biopharma has a one year low of $0.26 and a one year high of $3.28. The company’s 50 day simple moving average is $0.51 and its 200 day simple moving average is $0.75.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RedHill Biopharma stock. Armistice Capital LLC acquired a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 722,894 shares of the biotechnology company’s stock, valued at approximately $369,000. Armistice Capital LLC owned 6.53% of RedHill Biopharma at the end of the most recent quarter. Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.