Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Drop in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 36,318 shares, a decline of 52.4% from the December 15th total of 76,298 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 84,243 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 84,243 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s shares are short sold.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently bought a new stake in Redhill Biopharma stock. Gagnon Securities LLC bought a new position in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned approximately 0.54% of Redhill Biopharma at the end of the most recent reporting period. 7.20% of the stock is owned by institutional investors and hedge funds.

Redhill Biopharma Trading Down 0.8%

Shares of RDHL traded down $0.01 on Wednesday, reaching $1.23. The company’s stock had a trading volume of 63,220 shares, compared to its average volume of 2,921,580. Redhill Biopharma has a twelve month low of $0.91 and a twelve month high of $6.80. The firm has a fifty day moving average of $1.15 and a 200-day moving average of $1.47. The stock has a market capitalization of $6.26 million, a PE ratio of 0.00 and a beta of 4.87.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Redhill Biopharma 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.