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

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 128,328 shares, a decline of 39.2% from the September 30th total of 211,200 shares. Based on an average daily volume of 1,568,822 shares, the short-interest ratio is currently 0.1 days. Currently, 1.5% of the shares of the stock are short sold.

Redhill Biopharma Trading Down 2.6%

Shares of RDHL traded down $0.01 during mid-day trading on Tuesday, reaching $0.43. 3,659 shares of the company’s stock traded hands, compared to its average volume of 835,234. The stock’s 50-day moving average is $0.55 and its two-hundred day moving average is $0.81. Redhill Biopharma has a 12 month low of $0.38 and a 12 month high of $1.60.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Redhill Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, October 6th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

About Redhill Biopharma

RedHill Biopharma Ltd. was a specialty biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal diseases and infectious diseases. The company was founded in Israel and later operated as a publicly traded company in the United States under the ticker symbol RDHL.

RedHill’s principal commercial product was Talicia, an oral combination of omeprazole, amoxicillin and rifabutin approved by the U.S. Food and Drug Administration for the treatment of Helicobacter pylori infection in adults.