Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Decline in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 8,372 shares, a decline of 43.1% from the August 15th total of 14,705 shares. Based on an average daily trading volume, of 9,188,161 shares, the short-interest ratio is currently 0.0 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Redhill Biopharma

An institutional investor recently bought a new stake in Redhill Biopharma stock. Yorkville Advisors Global LP purchased a new stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 386,593 shares of the biotechnology company’s stock, valued at approximately $398,000. Redhill Biopharma accounts for approximately 0.3% of Yorkville Advisors Global LP’s holdings, making the stock its 19th largest position. Yorkville Advisors Global LP owned 7.57% of Redhill Biopharma as of its most recent SEC filing. 7.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Redhill Biopharma in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Redhill Biopharma Stock Up 6.7%

Shares of NASDAQ RDHL traded up $0.04 during midday trading on Thursday, hitting $0.59. The stock had a trading volume of 168,523 shares, compared to its average volume of 876,539. The company has a market capitalization of $3.57 million, a PE ratio of 0.00 and a beta of 4.96. The stock has a 50 day simple moving average of $0.66 and a 200-day simple moving average of $0.81. Redhill Biopharma has a 1 year low of $0.54 and a 1 year high of $2.79.

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.