Short Interest in Redhill Biopharma Ltd. (NASDAQ:RDHL) Declines By 32.8%

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 19,232 shares, a drop of 32.8% from the February 26th total of 28,626 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 34,499 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Redhill Biopharma Price Performance

Redhill Biopharma stock traded down $0.03 during midday trading on Friday, hitting $0.75. The company’s stock had a trading volume of 28,646 shares, compared to its average volume of 24,894. The company has a market cap of $3.83 million, a price-to-earnings ratio of 0.00 and a beta of 4.91. Redhill Biopharma has a 1-year low of $0.75 and a 1-year high of $3.31. The company has a 50-day moving average price of $1.02 and a two-hundred day moving average price of $1.26.

Institutional Investors Weigh In On Redhill Biopharma

An institutional investor recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC boosted its stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,102 shares of the biotechnology company’s stock after acquiring an additional 68,280 shares during the period. Gagnon Securities LLC owned 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent reporting period. 7.20% of the stock is owned by hedge funds and other institutional investors.

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.