Redhill Biopharma (NASDAQ:RDHL) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Redhill Biopharma Ltd. (NASDAQ:RDHL) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.95 and traded as low as $0.63. Redhill Biopharma shares last traded at $0.6333, with a volume of 20,220 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Redhill Biopharma has an average rating of “Sell”.

Redhill Biopharma Price Performance

The stock has a market capitalization of $3.85 million, a PE ratio of 0.00 and a beta of 4.98. The stock’s 50 day simple moving average is $0.85 and its two-hundred day simple moving average is $0.95.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC raised its position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission. 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.