RedHill Biopharma (NASDAQ:RDHL) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of RDHL opened at $0.39 on Thursday. The business’s 50 day moving average is $0.52 and its 200 day moving average is $0.74. RedHill Biopharma has a 12-month low of $0.26 and a 12-month high of $3.28.

Institutional Trading of RedHill Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in RedHill Biopharma during the 1st quarter valued at approximately $68,000. Armistice Capital LLC bought a new stake in RedHill Biopharma during the 1st quarter valued at approximately $1,063,000. Renaissance Technologies LLC bought a new stake in RedHill Biopharma in the 4th quarter worth approximately $49,000. BlackRock Inc. increased its stake in 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 acquiring an additional 56,178 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in RedHill Biopharma in the 2nd quarter worth approximately $324,000. Institutional investors own 7.20% of the company’s stock.

RedHill Biopharma Company Profile

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.