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

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 46,700 shares, a growth of 37.4% from the February 28th total of 34,000 shares. Based on an average trading volume of 85,700 shares, the days-to-cover ratio is currently 0.5 days. Currently, 3.7% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC purchased a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 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 filing with the SEC. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of RedHill Biopharma in a research report on Saturday. They set a “hold” rating for the company.

RedHill Biopharma Stock Performance

Shares of RDHL traded down $0.11 during mid-day trading on Tuesday, reaching $2.55. The stock had a trading volume of 49,525 shares, compared to its average volume of 111,619. RedHill Biopharma has a 12 month low of $2.47 and a 12 month high of $20.28. The business has a fifty day moving average of $4.37 and a 200 day moving average of $6.51.

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.