RedHill Biopharma (NASDAQ:RDHL) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ RDHL opened at $0.43 on Friday. The firm has a 50-day simple moving average of $0.51 and a two-hundred day simple moving average of $0.74. RedHill Biopharma has a 1 year low of $0.26 and a 1 year high of $3.28.

Institutional Trading of RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. Sabby Management LLC acquired a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma accounts for approximately 0.2% of Sabby Management LLC’s holdings, making the stock its 17th biggest holding. Sabby Management LLC owned approximately 5.74% of RedHill Biopharma as of its most recent SEC filing. 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 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.