RedHill Biopharma Stock to Reverse Split on Thursday, March 23rd (NASDAQ:RDHL)

RedHill Biopharma Ltd. (NASDAQ:RDHL – Get Rating) shares are going to reverse split on the morning of Thursday, March 23rd. The 1-40 reverse split was announced on Thursday, March 23rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 23rd.

RedHill Biopharma Stock Down 24.3 %

Shares of RDHL stock opened at $0.14 on Friday. RedHill Biopharma has a 12-month low of $0.13 and a 12-month high of $3.27. The company has a market capitalization of $13.14 million, a P/E ratio of -0.09 and a beta of 2.28. The firm has a 50-day moving average price of $0.20 and a 200 day moving average price of $0.39.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of RedHill Biopharma in a report on Thursday. They set a “hold” rating for the company.

Hedge Funds Weigh In On RedHill Biopharma

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley lifted 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 valued at $62,000 after purchasing an additional 58,128 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in RedHill Biopharma in the 4th quarter valued at about $49,000. CLARET ASSET MANAGEMENT Corp increased its position in RedHill Biopharma by 139.4% in the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 228,430 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 133,000 shares in the last quarter. Virtu Financial LLC increased its position in RedHill Biopharma by 44.8% in the 3rd quarter. Virtu Financial LLC now owns 62,182 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 19,242 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in RedHill Biopharma in the 2nd quarter valued at about $324,000. 5.20% of the stock is 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 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.