Redhill Biopharma (NASDAQ:RDHL) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

Redhill Biopharma Ltd. (NASDAQ:RDHL)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.49 and traded as low as $1.30. Redhill Biopharma shares last traded at $1.37, with a volume of 682,834 shares.

Wall Street Analysts Forecast Growth

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

Redhill Biopharma Price Performance

The firm has a market capitalization of $6.97 million, a price-to-earnings ratio of 0.00 and a beta of 4.87. The stock has a fifty day moving average of $1.15 and a two-hundred day moving average of $1.49.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Redhill Biopharma stock. Gagnon Securities LLC acquired a new stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma at the end of the most recent reporting period. 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.