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

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 30,000 shares, a decline of 35.8% from the March 15th total of 46,700 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 87,900 shares, the days-to-cover ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of RedHill Biopharma in a research report on Monday, April 14th. They issued a “hold” rating on the stock.

RedHill Biopharma Trading Up 9.2 %

RDHL stock opened at $2.26 on Friday. RedHill Biopharma has a twelve month low of $1.72 and a twelve month high of $20.28. The firm’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $5.81.

Institutional Trading of RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC purchased a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.