Redhill Biopharma (NASDAQ:RDHL) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Redhill Biopharma Ltd. (NASDAQ:RDHL)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.95 and traded as low as $0.63. Redhill Biopharma shares last traded at $0.6333, with a volume of 20,220 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Redhill Biopharma presently has a consensus rating of “Sell”.

Redhill Biopharma Stock Performance

The company has a market cap of $3.85 million, a price-to-earnings ratio of 0.00 and a beta of 4.98. The stock’s fifty day moving average is $0.85 and its two-hundred day moving average is $0.95.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC boosted its stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,102 shares of the biotechnology company’s stock after buying an additional 68,280 shares during the quarter. Gagnon Securities LLC owned approximately 1.68% of Redhill Biopharma worth $89,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Redhill Biopharma Company Profile

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.