Redhill Biopharma (NASDAQ:RDHL) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.52 and traded as low as $1.06. Redhill Biopharma shares last traded at $1.09, with a volume of 59,804 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Redhill Biopharma Stock Down 4.4%

The stock’s fifty day moving average price is $1.21 and its 200-day moving average price is $1.52. The company has a market capitalization of $4.95 million, a price-to-earnings ratio of 0.00 and a beta of 4.83.

Hedge Funds Weigh In On Redhill Biopharma

A hedge fund recently bought a new stake in Redhill Biopharma stock. Gagnon Securities LLC bought a new position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned approximately 0.54% of Redhill Biopharma as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 7.20% of the company’s stock.

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.