RedHill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Decline in Short Interest

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,300 shares, a drop of 43.6% from the January 15th total of 9,400 shares. Based on an average trading volume of 15,600 shares, the short-interest ratio is currently 0.3 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of RedHill Biopharma in a research note on Sunday. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC purchased a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned about 0.40% of RedHill Biopharma as of its most recent SEC filing. 7.20% of the stock is currently owned by institutional investors and hedge funds.

RedHill Biopharma Stock Performance

NASDAQ:RDHL traded down $0.40 on Thursday, hitting $5.20. The stock had a trading volume of 6,045 shares, compared to its average volume of 10,155. RedHill Biopharma has a 1-year low of $5.20 and a 1-year high of $20.27. The company has a fifty day moving average price of $6.36 and a two-hundred day moving average price of $36.25.

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.