StockNews.com Begins Coverage on RedHill Biopharma (NASDAQ:RDHL)

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHLFree Report) in a research report report published on Wednesday. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Performance

RDHL opened at $0.43 on Wednesday. RedHill Biopharma has a one year low of $0.26 and a one year high of $3.28. The company has a fifty day moving average price of $0.46 and a 200-day moving average price of $0.75.

Hedge Funds Weigh In On RedHill Biopharma

Institutional investors have recently added to or reduced their stakes in the business. Gagnon Securities LLC grew its holdings in shares of RedHill Biopharma by 32.1% during the first quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 28,771 shares in the last quarter. Sabby Management LLC bought a new stake in RedHill Biopharma during the third quarter valued at approximately $324,000. Finally, Armistice Capital LLC purchased a new position in RedHill Biopharma in the 3rd quarter worth approximately $369,000. 7.20% of the stock is currently owned by institutional investors.

RedHill Biopharma Company Profile

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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.

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