RedHill Biopharma (NASDAQ:RDHL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research report released on Friday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of RDHL stock opened at $0.29 on Friday. RedHill Biopharma has a 1 year low of $0.26 and a 1 year high of $3.28. The firm has a fifty day moving average price of $0.40 and a 200-day moving average price of $0.46.

Shares of RedHill Biopharma are going to reverse split on Tuesday, August 20th. The 1-25 reverse split was announced on Friday, August 16th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, August 19th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC increased its position in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 118,360 shares of the biotechnology company’s stock after buying an additional 28,771 shares during the period. Gagnon Securities LLC owned about 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent quarter. Institutional investors and hedge funds own 7.20% of the company’s stock.

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.