RedHill Biopharma (NASDAQ:RDHL) Now Covered by StockNews.com

Equities researchers at StockNews.com started coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ RDHL opened at $0.39 on Thursday. RedHill Biopharma has a 12 month low of $0.26 and a 12 month high of $3.28. The business has a 50-day moving average of $0.52 and a 200-day moving average of $0.74.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RDHL. Virtu Financial LLC purchased a new stake in RedHill Biopharma in the first quarter worth approximately $68,000. Armistice Capital LLC purchased a new stake in RedHill Biopharma in the first quarter worth approximately $1,063,000. Renaissance Technologies LLC purchased a new stake in RedHill Biopharma in the fourth quarter worth approximately $49,000. BlackRock Inc. boosted its stake in RedHill Biopharma by 18.6% in the first quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock worth $901,000 after buying an additional 56,178 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in RedHill Biopharma in the second quarter worth approximately $324,000. Hedge funds and other institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.