RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 94.8% in August

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 21,700 shares, a decline of 94.8% from the July 31st total of 417,400 shares. Based on an average daily volume of 304,200 shares, the short-interest ratio is presently 0.1 days. Approximately 1.7% of the company’s stock are sold short.

RedHill Biopharma Stock Up 3.1 %

Shares of RDHL traded up $0.26 during trading hours on Thursday, reaching $8.62. 91,327 shares of the stock traded hands, compared to its average volume of 142,498. RedHill Biopharma has a 52 week low of $6.43 and a 52 week high of $82.00. The stock has a fifty day simple moving average of $206.71 and a 200 day simple moving average of $268.93.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC lifted its stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118,360 shares of the biotechnology company’s stock after purchasing an additional 28,771 shares during the period. Gagnon Securities LLC owned 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.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on RedHill Biopharma in a research report on Saturday, August 24th. They set a “hold” rating on the stock.

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.