Redhill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 35.8% in July

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 19,996 shares, a decline of 35.8% from the June 30th total of 31,149 shares. Based on an average daily trading volume, of 85,870 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the company’s shares are short sold.

Redhill Biopharma Stock Performance

Shares of NASDAQ:RDHL opened at $0.65 on Friday. Redhill Biopharma has a 1 year low of $0.63 and a 1 year high of $2.79. The stock has a market capitalization of $3.98 million, a P/E ratio of 0.00 and a beta of 4.98. The stock has a 50-day simple moving average of $0.82 and a 200-day simple moving average of $0.93.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Redhill Biopharma has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor 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% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,102 shares of the biotechnology company’s stock after buying an additional 68,280 shares during the quarter. Gagnon Securities LLC owned 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent quarter. 7.20% of the stock is owned by hedge funds and other institutional investors.

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.