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

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the target of a significant decline in short interest in 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. Based on an average daily volume of 87,900 shares, the short-interest ratio is currently 0.3 days. Approximately 2.4% of the shares of the company are short sold.

Hedge Funds Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC bought a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned approximately 0.40% of RedHill Biopharma at the end of the most recent reporting period. Institutional investors and hedge funds own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of RedHill Biopharma in a report on Monday. They issued a “hold” rating on the stock.

RedHill Biopharma Trading Up 14.3 %

Shares of RDHL traded up $0.30 during mid-day trading on Thursday, reaching $2.37. The company had a trading volume of 1,105,030 shares, compared to its average volume of 182,449. The company’s 50-day moving average is $3.33 and its 200-day moving average is $5.85. RedHill Biopharma has a twelve month low of $1.72 and a twelve month high of $20.27.

RedHill Biopharma Company Profile

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.