RedHill Biopharma (NASDAQ:RDHL) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Wednesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of RDHL stock opened at $6.26 on Wednesday. The stock’s fifty day moving average price is $7.27 and its 200 day moving average price is $76.46. RedHill Biopharma has a 1-year low of $6.00 and a 1-year high of $34.00. The company has a market cap of $8.02 million, a price-to-earnings ratio of -0.63 and a beta of 3.69.

Institutional Investors Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC purchased a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 7.20% of the company’s stock.

About RedHill Biopharma

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company develops and commercializes Talicia for the treatment of H. pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults. Its pipeline consists of five therapeutic candidates, which are in clinical development include opaganib for treating patients hospitalized with SARS-CoV-2 severe COVID-19 pneumonia, advanced unresectable cholangiocarcinoma, prostate cancer, and nuclear radiation protection; RHB-107 (upamostat) for treating outpatients infected with SARS-CoV-2 (COVID-19 disease) and advanced unresectable cholangiocarcinoma; RHB-104 for Crohn's disease; RHB-102 (Bekinda) for the treatment of acute gastroenteritis and gastritis, irritable bowel syndrome with diarrhea, and oncology support anti-emetic; and RHB-204 for pulmonary nontuberculous mycobacteria infections caused by mycobacterium avium complex.