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

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 175,260 shares, a growth of 382.6% from the December 31st total of 36,318 shares. Based on an average daily trading volume, of 2,480,934 shares, the short-interest ratio is currently 0.1 days. Currently, 3.7% of the shares of the company are short sold. Currently, 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,480,934 shares, the short-interest ratio is currently 0.1 days.

Redhill Biopharma Price Performance

RDHL opened at $1.27 on Friday. The stock has a market capitalization of $6.46 million, a P/E ratio of 0.00 and a beta of 4.87. Redhill Biopharma has a 12 month low of $0.91 and a 12 month high of $6.26. The business has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.42.

Institutional Trading of Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC purchased a new position in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to its most recent 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 approximately 0.54% of Redhill Biopharma as of its most recent filing with the Securities & Exchange Commission. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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