RedHill Biopharma (NASDAQ:RDHL) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report published on Friday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Up 2.8 %

RedHill Biopharma stock opened at $0.43 on Friday. RedHill Biopharma has a 52 week low of $0.26 and a 52 week high of $3.28. The stock has a 50-day moving average price of $0.51 and a 200 day moving average price of $0.74.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RedHill Biopharma stock. Sabby Management LLC purchased a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma makes up 0.2% of Sabby Management LLC’s portfolio, making the stock its 17th biggest position. Sabby Management LLC owned 5.74% of RedHill Biopharma at the end of the most recent reporting period. Hedge funds and other 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.