Redhill Biopharma (NASDAQ:RDHL) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.27 and traded as low as $0.87. Redhill Biopharma shares last traded at $0.8899, with a volume of 7,208 shares traded.

Analysts Set New Price Targets

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

Redhill Biopharma Stock Performance

The firm has a fifty day simple moving average of $1.05 and a 200 day simple moving average of $1.27. The company has a market cap of $4.55 million, a PE ratio of 0.00 and a beta of 4.91.

Institutional Investors Weigh In On Redhill Biopharma

An institutional investor recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC raised its stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,102 shares of the biotechnology company’s stock after purchasing an additional 68,280 shares during the period. Gagnon Securities LLC owned 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent reporting period. 7.20% of the stock is owned by institutional investors and hedge funds.

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.