Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Growth in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 31,149 shares, an increase of 119.7% from the June 15th total of 14,178 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 137,032 shares, the days-to-cover ratio is currently 0.2 days.

Redhill Biopharma Stock Performance

Shares of Redhill Biopharma stock traded up $0.02 on Wednesday, hitting $0.76. The stock had a trading volume of 36,421 shares, compared to its average volume of 319,134. The stock has a 50 day moving average of $0.90 and a 200 day moving average of $0.97. The firm has a market capitalization of $4.62 million, a P/E ratio of 0.00 and a beta of 4.98. Redhill Biopharma has a twelve month low of $0.64 and a twelve month high of $3.31.

Institutional Trading of Redhill Biopharma

An institutional investor recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC lifted its stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,102 shares of the biotechnology company’s stock after acquiring an additional 68,280 shares during the quarter. Gagnon Securities LLC owned approximately 1.68% of Redhill Biopharma worth $89,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 7.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Redhill Biopharma Company Profile

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.