Short Interest in Redhill Biopharma Ltd. (NASDAQ:RDHL) Declines By 13.6%

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large decrease in short interest in February. As of February 27th, there was short interest totaling 28,626 shares, a decrease of 13.6% from the February 12th total of 33,139 shares. Based on an average daily trading volume, of 36,555 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.6% of the shares of the stock are short sold. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 36,555 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma at the end of the most recent quarter. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Redhill Biopharma Stock Down 2.0%

NASDAQ:RDHL opened at $0.85 on Tuesday. The company has a market cap of $4.36 million, a PE ratio of 0.00 and a beta of 4.91. The business’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.29. Redhill Biopharma has a 52 week low of $0.80 and a 52 week high of $3.31.

Wall Street Analysts Forecast Growth

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