Redhill Biopharma (NASDAQ:RDHL) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Redhill Biopharma Ltd. (NASDAQ:RDHL) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.67 and traded as low as $1.0101. Redhill Biopharma shares last traded at $1.04, with a volume of 35,560 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Redhill Biopharma in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Redhill Biopharma Trading Down 1.9%

The stock has a fifty day simple moving average of $1.56 and a two-hundred day simple moving average of $1.67. The firm has a market cap of $3.46 million, a PE ratio of 0.00 and a beta of 4.56.

Institutional Trading of Redhill Biopharma

A hedge fund recently bought a new stake in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma at the end of the most recent reporting period. 7.20% of the stock is owned by institutional investors and hedge funds.

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.