RedHill Biopharma (NASDAQ:RDHL) Shares to Reverse Split on Tuesday, August 20th

RedHill Biopharma Ltd. (NASDAQ:RDHL)’s stock is set to reverse split before the market opens on Tuesday, August 20th. The 1-25 reverse split was announced on Friday, August 16th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, August 19th.

RedHill Biopharma Stock Down 22.6 %

RDHL stock traded down $0.08 on Friday, reaching $0.29. 2,342,645 shares of the company traded hands, compared to its average volume of 3,311,910. The firm has a fifty day simple moving average of $0.40 and a 200-day simple moving average of $0.47. RedHill Biopharma has a one year low of $0.26 and a one year high of $3.28.

Analyst Ratings Changes

Separately, StockNews.com started coverage on RedHill Biopharma in a research note on Friday. They set a “hold” rating on the stock.

Institutional Trading of RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC raised its holdings in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% during the 1st quarter, according to the company in its most recent filing with the Securities and 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 approximately 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent quarter. 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.