Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Rises By 37.4%

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 46,700 shares, an increase of 37.4% from the February 28th total of 34,000 shares. Based on an average daily volume of 85,700 shares, the short-interest ratio is presently 0.5 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC acquired a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma as of its most recent SEC filing. 7.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

RedHill Biopharma Price Performance

NASDAQ RDHL opened at $2.79 on Monday. The stock’s fifty day moving average price is $4.43 and its 200 day moving average price is $6.56. RedHill Biopharma has a 1 year low of $2.47 and a 1 year high of $20.28.

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.