Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Decreases By 73.5%

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 7,400 shares, a decrease of 73.5% from the September 30th total of 27,900 shares. Based on an average trading volume of 320,800 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.6% of the company’s shares are short sold.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC grew its position in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,360 shares of the biotechnology company’s stock after acquiring 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 own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of RedHill Biopharma in a report on Saturday, August 24th. They issued a “hold” rating for the company.

RedHill Biopharma Stock Performance

NASDAQ RDHL traded up $0.21 during trading hours on Friday, hitting $8.20. 9,569 shares of the company traded hands, compared to its average volume of 120,883. The business’s 50-day moving average is $8.83 and its 200-day moving average is $174.88. The stock has a market capitalization of $10.41 million, a price-to-earnings ratio of -0.82 and a beta of 3.68. RedHill Biopharma has a twelve month low of $6.80 and a twelve month high of $82.00.

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.