Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Drop in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 62,681 shares, a drop of 64.2% from the January 15th total of 175,260 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 80,567 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 80,567 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.3% of the shares of the company are sold short.

Redhill Biopharma Trading Down 5.4%

RDHL opened at $1.00 on Wednesday. The business has a 50 day moving average of $1.20 and a 200-day moving average of $1.36. The stock has a market capitalization of $5.10 million, a price-to-earnings ratio of 0.00 and a beta of 4.91. Redhill Biopharma has a 1-year low of $0.91 and a 1-year high of $5.75.

Institutional Investors Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC purchased a new stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma as of its most recent SEC filing. 7.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.