Short Interest in Redhill Biopharma Ltd. (NASDAQ:RDHL) Increases By 119.7%

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 31,149 shares, an increase of 119.7% from the June 15th total of 14,178 shares. Based on an average daily volume of 137,032 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Redhill Biopharma stock. Yorkville Advisors Global LP purchased a new position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 386,593 shares of the biotechnology company’s stock, valued at approximately $398,000. Redhill Biopharma comprises approximately 0.3% of Yorkville Advisors Global LP’s holdings, making the stock its 19th biggest holding. Yorkville Advisors Global LP owned about 7.57% of Redhill Biopharma as of its most recent SEC filing. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Redhill Biopharma Stock Performance

Shares of NASDAQ:RDHL opened at $0.73 on Friday. The stock’s 50-day moving average is $0.89 and its 200-day moving average is $0.97. The company has a market cap of $4.44 million, a P/E ratio of 0.00 and a beta of 4.98. Redhill Biopharma has a 52-week low of $0.64 and a 52-week high of $3.31.

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.