Redhill Biopharma (NASDAQ:RDHL) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Redhill Biopharma Ltd. (NASDAQ:RDHL) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.98 and traded as low as $0.6850. Redhill Biopharma shares last traded at $0.7015, with a volume of 55,612 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Redhill Biopharma currently has an average rating of “Sell”.

Redhill Biopharma Stock Down 0.9%

The firm’s 50 day simple moving average is $0.91 and its 200 day simple moving average is $0.98. The company has a market cap of $3.61 million, a price-to-earnings ratio of 0.00 and a beta of 4.98.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC grew its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 86,102 shares of the biotechnology company’s stock after acquiring an additional 68,280 shares during the quarter. Gagnon Securities LLC owned about 1.68% of Redhill Biopharma worth $89,000 as of its most recent SEC filing. 7.20% of the stock is owned by institutional investors and hedge funds.

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.