RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 58.7% in September

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 49,800 shares, a decline of 58.7% from the August 31st total of 120,500 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily volume of 317,400 shares, the days-to-cover ratio is currently 0.2 days.

RedHill Biopharma Stock Down 7.4 %

Shares of NASDAQ RDHL opened at $8.63 on Friday. RedHill Biopharma has a 1-year low of $6.43 and a 1-year high of $82.00. The company has a 50-day moving average of $9.65 and a two-hundred day moving average of $10.58.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC boosted its position in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 118,360 shares of the biotechnology company’s stock after acquiring an additional 28,771 shares during the period. Gagnon Securities LLC owned 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.20% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on RedHill Biopharma in a research note on Saturday, August 24th. 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.