Redhill Biopharma (NASDAQ:RDHL) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Redhill Biopharma Ltd. (NASDAQ:RDHL) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.98 and traded as low as $0.6850. Redhill Biopharma shares last traded at $0.7015, with a volume of 55,612 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Redhill Biopharma presently has a consensus rating of “Sell”.

Redhill Biopharma Stock Performance

The firm has a market capitalization of $3.64 million, a P/E ratio of 0.00 and a beta of 4.98. The firm’s 50-day moving average is $0.92 and its 200 day moving average is $0.98.

Institutional Investors Weigh In On Redhill Biopharma

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC raised its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,102 shares of the biotechnology company’s stock after acquiring an additional 68,280 shares during the quarter. Gagnon Securities LLC owned approximately 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent reporting period. Institutional investors own 7.20% of the company’s stock.

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.