Shares of Redhill Biopharma Ltd. (NASDAQ:RDHL – Get Free Report) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $0.78 and traded as low as $0.4881. Redhill Biopharma shares last traded at $0.50, with a volume of 130,226 shares traded.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Redhill Biopharma in a research note on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.
Check Out Our Latest Analysis on Redhill Biopharma
Redhill Biopharma Stock Up 4.2%
Institutional Investors Weigh In On Redhill Biopharma
A hedge fund recently raised its position in Redhill Biopharma stock. Gagnon Securities LLC increased its holdings in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL – Free Report) by 383.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,102 shares of the biotechnology company’s stock after purchasing an additional 68,280 shares during the quarter. Gagnon Securities LLC owned approximately 1.68% of Redhill Biopharma worth $89,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 7.20% of the company’s stock.
About Redhill Biopharma
RedHill Biopharma Ltd. was a specialty biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal diseases and certain infectious diseases. The company was founded in Israel and conducted operations primarily in the United States, where it pursued regulatory approval, commercialization and clinical development activities.
RedHill’s principal commercial product was Talicia, an oral combination of rifabutin, amoxicillin and omeprazole approved by the U.S.
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