Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Declines By 73.5%

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 7,400 shares, a decrease of 73.5% from the September 30th total of 27,900 shares. Based on an average trading volume of 320,800 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC increased its position in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 118,360 shares of the biotechnology company’s stock after purchasing 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. Institutional investors own 7.20% of the company’s stock.

RedHill Biopharma Trading Up 3.5 %

Shares of RedHill Biopharma stock traded up $0.28 during trading hours on Friday, hitting $8.27. The company had a trading volume of 6,140 shares, compared to its average volume of 120,866. The company’s 50-day moving average is $12.29 and its two-hundred day moving average is $178.04. RedHill Biopharma has a twelve month low of $6.80 and a twelve month high of $82.00.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on RedHill Biopharma in a research note on Saturday, August 24th. They set a “hold” rating for the company.

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.