RedHill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Increase in Short Interest

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 34,000 shares, an increase of 486.2% from the February 13th total of 5,800 shares. Based on an average daily volume of 54,100 shares, the short-interest ratio is currently 0.6 days. Approximately 2.7% of the company’s stock are sold short.

Institutional Investors Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC bought a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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 reporting period. 7.20% of the stock is currently owned by institutional investors and hedge funds.

RedHill Biopharma Price Performance

RDHL traded down $0.09 during trading on Friday, hitting $2.52. 25,930 shares of the company traded hands, compared to its average volume of 106,491. RedHill Biopharma has a one year low of $2.45 and a one year high of $20.28. The stock’s fifty day moving average is $5.13 and its 200 day moving average is $7.08.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of RedHill Biopharma in a research note on Thursday. They issued a “hold” rating for the company.

RedHill Biopharma Company Profile

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.