RedHill Biopharma (NASDAQ:RDHL) Earns Hold Rating from Analysts at StockNews.com

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

RedHill Biopharma Stock Performance

NASDAQ RDHL opened at $0.45 on Friday. The stock’s 50 day simple moving average is $0.50 and its 200 day simple moving average is $0.75. RedHill Biopharma has a one year low of $0.26 and a one year high of $3.28.

Institutional Investors Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Sabby Management LLC bought a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma comprises about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 17th biggest position. Sabby Management LLC owned approximately 5.74% of RedHill Biopharma at the end of the most recent reporting period. 7.20% of the stock is owned by institutional investors and hedge funds.

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.