RedHill Biopharma (NASDAQ:RDHL) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research report released on Thursday. The firm issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

NASDAQ RDHL opened at $0.43 on Thursday. The company has a fifty day simple moving average of $0.52 and a 200 day simple moving average of $0.74. RedHill Biopharma has a 12-month low of $0.26 and a 12-month high of $3.28.

Institutional Trading of RedHill Biopharma

Several hedge funds have recently bought and sold shares of the business. Armistice Capital LLC purchased a new position in RedHill Biopharma during the 3rd quarter worth $369,000. Sabby Management LLC purchased a new position in RedHill Biopharma during the 3rd quarter worth $324,000. Morgan Stanley boosted its holdings in RedHill Biopharma by 15.0% during the 4th quarter. Morgan Stanley now owns 445,309 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 58,128 shares during the last quarter. Millennium Management LLC purchased a new position in RedHill Biopharma during the 2nd quarter worth $324,000. Finally, BlackRock Inc. boosted its holdings in RedHill Biopharma by 18.6% during the 1st quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock worth $901,000 after acquiring an additional 56,178 shares during the last quarter. Institutional investors and hedge funds own 7.20% of the company’s stock.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.