RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 58.7% in September

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 49,800 shares, a decrease of 58.7% from the August 31st total of 120,500 shares. Based on an average daily trading volume, of 317,400 shares, the days-to-cover ratio is currently 0.2 days. Currently, 3.9% of the company’s shares are short sold.

RedHill Biopharma Stock Performance

RDHL opened at $8.63 on Friday. RedHill Biopharma has a 12 month low of $6.43 and a 12 month high of $82.00. The company has a fifty day simple moving average of $9.65 and a 200 day simple moving average of $10.58.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on RedHill Biopharma in a research note on Saturday, August 24th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

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

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.