Redhill Biopharma (NASDAQ:RDHL) Share Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.52 and traded as low as $1.06. Redhill Biopharma shares last traded at $1.09, with a volume of 59,804 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Redhill Biopharma in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Redhill Biopharma Stock Down 4.4%

The business has a fifty day moving average of $1.21 and a 200 day moving average of $1.52. The firm has a market cap of $4.95 million, a P/E ratio of 0.00 and a beta of 4.83.

Institutional Investors Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC acquired a new position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma at the end of the most recent reporting period. 7.20% of the stock is owned by institutional investors.

About Redhill Biopharma

RedHill Biopharma Ltd. is a specialty biopharmaceutical company focused on the development and commercialization of proprietary, orally-administered small molecules for the treatment of inflammatory, gastrointestinal and oncology indications. Founded in 2009 and headquartered in Tel Aviv, Israel, RedHill is publicly traded on the Nasdaq under the symbol RDHL. The company’s strategy centers on in-licensing late-stage clinical candidates and advancing them through regulatory review toward global commercialization.

RedHill’s lead marketed product, Talicia® (formerly RHB-105), is an FDA-approved, three-drug treatment for Helicobacter pylori infection, co-commercialized in the United States through a partnership with Bausch Health.