RedHill Biopharma (NASDAQ:RDHL) Shares Cross Below 200 Day Moving Average – Here’s Why

RedHill Biopharma Ltd. (NASDAQ:RDHL) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $76.46 and traded as low as $6.51. RedHill Biopharma shares last traded at $6.58, with a volume of 4,230 shares.

Analyst Upgrades and Downgrades

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

RedHill Biopharma Stock Performance

The business has a 50 day moving average of $7.23 and a two-hundred day moving average of $75.96. The stock has a market capitalization of $8.02 million, a PE ratio of -0.63 and a beta of 3.69.

Institutional Trading of RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC acquired a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 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 quarter. 7.20% of the stock is currently 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.