RedHill Biopharma (NASDAQ:RDHL) Shares Pass Below 200 Day Moving Average – Here’s What Happened

RedHill Biopharma Ltd. (NASDAQ:RDHL)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $76.46 and traded as low as $6.51. RedHill Biopharma shares last traded at $6.58, with a volume of 4,230 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of RedHill Biopharma in a research note on Wednesday. They issued a “hold” rating on the stock.

RedHill Biopharma Trading Down 0.9 %

The company has a market cap of $8.43 million, a P/E ratio of -0.66 and a beta of 3.69. The stock’s 50 day moving average is $7.27 and its 200-day moving average is $76.46.

Hedge Funds Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC bought a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma 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., 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.