RedHill Biopharma (NASDAQ:RDHL) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com began 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

Shares of RDHL opened at $0.45 on Friday. RedHill Biopharma has a 1 year low of $0.26 and a 1 year high of $3.28. The stock’s 50-day moving average price is $0.50 and its two-hundred day moving average price is $0.75.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Sabby Management LLC bought a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma comprises 0.2% of Sabby Management LLC’s holdings, making the stock its 17th largest holding. Sabby Management LLC owned approximately 5.74% of RedHill Biopharma as of its most recent filing with the Securities & Exchange Commission. 7.20% of the stock is owned by institutional investors and hedge funds.

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.