Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Expands By 37.4%

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 46,700 shares, an increase of 37.4% from the February 28th total of 34,000 shares. Based on an average daily trading volume, of 85,700 shares, the short-interest ratio is currently 0.5 days. Currently, 3.7% of the shares of the stock are sold short.

RedHill Biopharma Stock Down 4.1 %

Shares of RDHL opened at $2.55 on Wednesday. The firm’s fifty day moving average is $4.29 and its two-hundred day moving average is $6.45. RedHill Biopharma has a 52-week low of $2.47 and a 52-week high of $20.28.

Institutional Trading of RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC bought a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned about 0.40% of RedHill Biopharma at the end of the most recent reporting period. Institutional investors own 7.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on RedHill Biopharma in a research report on Saturday. They issued a “hold” rating on the stock.

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.