Short Interest in Redhill Biopharma Ltd. (NASDAQ:RDHL) Rises By 382.6%

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 175,260 shares, an increase of 382.6% from the December 31st total of 36,318 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average daily volume of 2,480,934 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 2,480,934 shares, the short-interest ratio is currently 0.1 days. Approximately 3.7% of the company’s stock are sold short.

Redhill Biopharma Stock Up 1.5%

RDHL stock opened at $1.33 on Wednesday. The company has a market cap of $6.77 million, a price-to-earnings ratio of 0.00 and a beta of 4.87. Redhill Biopharma has a twelve month low of $0.91 and a twelve month high of $6.45. The business has a 50 day moving average price of $1.20 and a two-hundred day moving average price of $1.42.

Hedge Funds Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC bought a new position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 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 quarter. 7.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.