StockNews.com Begins Coverage on RedHill Biopharma (NASDAQ:RDHL)

Equities researchers at StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHLGet Free Report) in a report issued on Tuesday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Trading Up 3.8 %

Shares of RDHL opened at $0.55 on Tuesday. The business’s fifty day simple moving average is $0.57 and its two-hundred day simple moving average is $0.76. RedHill Biopharma has a 12 month low of $0.26 and a 12 month high of $4.24.

Institutional Trading of RedHill Biopharma

Institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC purchased a new stake in RedHill Biopharma during the 3rd quarter valued at $369,000. Sabby Management LLC purchased a new position in shares of RedHill Biopharma in the 3rd quarter worth $324,000. BlackRock Inc. boosted its stake in shares of RedHill Biopharma by 18.6% in the 1st quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock worth $901,000 after buying an additional 56,178 shares during the last quarter. Millennium Management LLC purchased a new position in shares of RedHill Biopharma in the 2nd quarter worth $324,000. Finally, Virtu Financial LLC purchased a new position in shares of RedHill Biopharma in the 1st quarter worth $68,000. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

About RedHill Biopharma

(Get Free Report)

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

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