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

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

RedHill Biopharma Stock Performance

Shares of RedHill Biopharma stock opened at $0.37 on Friday. The company’s 50 day moving average is $0.43 and its 200 day moving average is $0.66. RedHill Biopharma has a twelve month low of $0.26 and a twelve month high of $3.28.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Gagnon Securities LLC raised its position in RedHill Biopharma by 32.1% in the first quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 28,771 shares during the period. Sabby Management LLC bought a new position in RedHill Biopharma in the third quarter worth approximately $324,000. Finally, Armistice Capital LLC bought a new position in RedHill Biopharma in the third quarter worth approximately $369,000. 7.20% of the stock is currently owned by institutional investors.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.