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

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 36,318 shares, a drop of 52.4% from the December 15th total of 76,298 shares. Based on an average daily trading volume, of 84,243 shares, the short-interest ratio is presently 0.4 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 84,243 shares, the short-interest ratio is presently 0.4 days.

Redhill Biopharma Trading Down 0.8%

RDHL stock traded down $0.01 during trading on Wednesday, hitting $1.23. The company had a trading volume of 63,220 shares, compared to its average volume of 2,921,580. Redhill Biopharma has a one year low of $0.91 and a one year high of $6.80. The business has a 50-day moving average of $1.15 and a 200-day moving average of $1.47. The stock has a market cap of $6.26 million, a PE ratio of 0.00 and a beta of 4.87.

Hedge Funds Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned about 0.54% of Redhill Biopharma at the end of the most recent quarter. 7.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Redhill Biopharma in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently 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.