Redhill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 36.4% in June

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 14,178 shares, a decrease of 36.4% from the May 31st total of 22,308 shares. Based on an average daily volume of 737,816 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Redhill Biopharma Stock Performance

RDHL traded down $0.00 on Thursday, hitting $0.83. 33,258 shares of the company were exchanged, compared to its average volume of 335,027. The stock’s fifty day moving average is $0.94 and its 200-day moving average is $1.00. Redhill Biopharma has a 12 month low of $0.71 and a 12 month high of $3.31. The company has a market cap of $4.29 million, a PE ratio of 0.00 and a beta of 4.98.

Institutional Investors Weigh In On Redhill Biopharma

A hedge fund recently raised its stake in Redhill Biopharma stock. Gagnon Securities LLC increased its stake in Redhill Biopharma Ltd. (NASDAQ:RDHL) by 383.1% in the 4th quarter, according to the company in its most recent 13F 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. 7.20% of the stock is currently owned by institutional investors.

About Redhill Biopharma

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.