RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Update

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,600 shares, a drop of 78.4% from the October 15th total of 7,400 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 69,300 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC increased its stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 7.20% of the stock is currently owned by institutional investors.

RedHill Biopharma Price Performance

NASDAQ RDHL traded down $0.13 during trading on Wednesday, hitting $7.05. 8,609 shares of the company traded hands, compared to its average volume of 114,662. RedHill Biopharma has a 12 month low of $6.80 and a 12 month high of $82.00. The business has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $152.38.

Wall Street Analysts Forecast Growth

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

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.