RedHill Biopharma (NASDAQ:RDHL) Stock Passes Below 200 Day Moving Average of $11.02

RedHill Biopharma Ltd. (NASDAQ:RDHL)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.02 and traded as low as $8.21. RedHill Biopharma shares last traded at $8.56, with a volume of 50,564 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on RedHill Biopharma in a research note on Saturday, August 24th. They set a “hold” rating on the stock.

RedHill Biopharma Trading Up 0.6 %

The firm has a 50-day simple moving average of $9.42 and a two-hundred day simple moving average of $11.02.

Institutional Trading of RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC boosted its holdings in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,360 shares of the biotechnology company’s stock after buying an additional 28,771 shares during the quarter. Gagnon Securities LLC owned approximately 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent reporting period. 7.20% of the stock is currently owned by hedge funds and other 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.