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

Equities researchers at StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued to investors on Monday. The brokerage set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

RDHL opened at $5.23 on Monday. The company’s 50 day simple moving average is $6.24 and its 200 day simple moving average is $28.15. RedHill Biopharma has a 1 year low of $5.20 and a 1 year high of $20.27.

Institutional Trading of RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC purchased a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned about 0.40% of RedHill Biopharma at the end of the most recent quarter. 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.