Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 136,592 shares, an increase of 0.3% from the April 28th total of 136,188 shares. Based on an average trading volume of 33,012 shares, the short-interest ratio is presently 4.1 days.
A number of hedge funds have recently modified their holdings of RDHL. Oppenheimer & Co. Inc. raised its stake in shares of Redhill Biopharma by 36.5% in the first quarter. Oppenheimer & Co. Inc. now owns 23,069 shares of the biotechnology company’s stock worth $221,000 after buying an additional 6,172 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Redhill Biopharma by 75.0% in the first quarter. Penserra Capital Management LLC now owns 17,843 shares of the biotechnology company’s stock worth $171,000 after buying an additional 7,647 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Redhill Biopharma during the first quarter valued at about $101,000. Family Management Corp acquired a new position in Redhill Biopharma during the first quarter valued at about $163,000. Finally, Van ECK Associates Corp raised its position in Redhill Biopharma by 207.1% in the fourth quarter. Van ECK Associates Corp now owns 29,657 shares of the biotechnology company’s stock valued at $310,000 after buying an additional 19,999 shares in the last quarter. 12.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Redhill Biopharma (RDHL) traded up 5.58% during mid-day trading on Monday, hitting $9.08. 100,856 shares of the stock traded hands. Redhill Biopharma has a 12 month low of $8.40 and a 12 month high of $16.54. The company’s market cap is $154.42 million. The firm has a 50 day moving average of $9.63 and a 200 day moving average of $10.04.
Redhill Biopharma (NASDAQ:RDHL) last posted its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.14. Equities analysts anticipate that Redhill Biopharma will post ($2.19) EPS for the current fiscal year.
Several analysts have commented on RDHL shares. FBR & Co reiterated a “buy” rating on shares of Redhill Biopharma in a research note on Friday. HC Wainwright set a $33.00 price target on shares of Redhill Biopharma and gave the stock a “buy” rating in a research note on Thursday. Finally, Roth Capital set a $26.00 target price on shares of Redhill Biopharma and gave the company a “buy” rating in a research report on Thursday, May 4th.
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Redhill Biopharma Company Profile
RedHill Biopharma Ltd. is a biopharmaceutical company. The Company is focused on the development and commercialization of clinical-stage, orally-administered, small molecule drugs for the treatment of gastrointestinal (GI) and inflammatory diseases and cancer. Its seven clinical-stage therapeutic candidates include RHB-105, RHB-104, BEKINDA, RHB-106, YELIVA, MESUPRON and RIZAPORT and related research and development programs.
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