RedHill Biopharma (NASDAQ:RDHL) Now Covered by StockNews.com

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

RedHill Biopharma Price Performance

NASDAQ RDHL opened at $0.36 on Friday. RedHill Biopharma has a 52-week low of $0.26 and a 52-week high of $3.28. The company has a fifty day moving average of $0.43 and a 200-day moving average of $0.64.

Institutional Investors Weigh In On RedHill Biopharma

A number of institutional investors have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in RedHill Biopharma during the 3rd quarter worth approximately $369,000. Sabby Management LLC bought a new position in RedHill Biopharma in the 3rd quarter worth $324,000. Finally, Gagnon Securities LLC increased its position in shares of RedHill Biopharma by 32.1% during the first quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock valued at $63,000 after buying an additional 28,771 shares during the period. Hedge funds and other institutional investors own 7.20% of the company’s stock.

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.