Short Interest in Redhill Biopharma Ltd. (NASDAQ:RDHL) Grows By 49.7%

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 29,926 shares, an increase of 49.7% from the July 15th total of 19,996 shares. Based on an average daily trading volume, of 45,467 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the shares of the stock are short sold.

Redhill Biopharma Stock Up 2.0%

Shares of RDHL stock traded up $0.01 on Wednesday, reaching $0.60. The company’s stock had a trading volume of 9,952 shares, compared to its average volume of 276,190. The company has a market capitalization of $3.68 million, a P/E ratio of 0.00 and a beta of 5.00. Redhill Biopharma has a 12-month low of $0.57 and a 12-month high of $2.79. The stock’s 50 day simple moving average is $0.73 and its 200-day simple moving average is $0.87.

Institutional Trading of Redhill Biopharma

An institutional investor recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC increased its stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 approximately 1.68% of Redhill Biopharma worth $89,000 as of its most recent SEC filing. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Redhill Biopharma in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

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.