Redhill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Update

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 31,149 shares, an increase of 119.7% from the June 15th total of 14,178 shares. Based on an average daily volume of 137,032 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC grew its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,102 shares of the biotechnology company’s stock after buying an additional 68,280 shares during the period. Gagnon Securities LLC owned approximately 1.68% of Redhill Biopharma worth $89,000 as of its most recent filing with the SEC. Institutional investors own 7.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Redhill Biopharma currently has a consensus rating of “Sell”.

Redhill Biopharma Stock Performance

Shares of NASDAQ:RDHL traded up $0.02 during midday trading on Wednesday, reaching $0.76. The company’s stock had a trading volume of 36,421 shares, compared to its average volume of 319,134. Redhill Biopharma has a fifty-two week low of $0.64 and a fifty-two week high of $3.31. The firm has a 50 day moving average price of $0.90 and a two-hundred day moving average price of $0.97. The firm has a market capitalization of $4.62 million, a price-to-earnings ratio of 0.00 and a beta of 4.98.

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.