RedHill Biopharma Stock Set to Reverse Split on Thursday, March 23rd (NASDAQ:RDHL)

Shares of RedHill Biopharma Ltd. (NASDAQ:RDHLGet Rating) are scheduled to reverse split on the morning of Thursday, March 23rd. The 1-40 reverse split was announced on Thursday, March 23rd. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, March 23rd.

RedHill Biopharma Stock Performance

NASDAQ RDHL opened at $0.14 on Friday. The firm has a 50-day moving average of $0.20 and a 200-day moving average of $0.39. The stock has a market cap of $13.14 million, a PE ratio of -0.09 and a beta of 2.28. RedHill Biopharma has a 52-week low of $0.13 and a 52-week high of $3.27.

Wall Street Analysts Forecast Growth

Separately, began coverage on shares of RedHill Biopharma in a research note on Thursday. They set a “hold” rating for the company.

Institutional Trading of RedHill Biopharma

Several hedge funds and other institutional investors have recently bought and sold shares of RDHL. BlackRock Inc. raised its stake in RedHill Biopharma by 18.6% in the 1st quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 56,178 shares in the last quarter. Virtu Financial LLC bought a new position in RedHill Biopharma in the 1st quarter valued at about $68,000. Millennium Management LLC bought a new position in RedHill Biopharma in the 2nd quarter valued at about $324,000. CLARET ASSET MANAGEMENT Corp increased its holdings in RedHill Biopharma by 139.4% in the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 228,430 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 133,000 shares during the period. Finally, Renaissance Technologies LLC bought a new position in RedHill Biopharma in the 4th quarter valued at about $49,000. Institutional investors and hedge funds own 5.20% of the company’s stock.

About RedHill Biopharma

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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.

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