StockNews.com Begins Coverage on RedHill Biopharma (NASDAQ:RDHL)

StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note published on Friday morning. The firm issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Trading Up 10.7 %

Shares of NASDAQ:RDHL opened at $0.32 on Friday. The business’s 50 day moving average price is $250.21 and its 200-day moving average price is $289.31. RedHill Biopharma has a 1 year low of $0.26 and a 1 year high of $3.28.

Institutional Trading of RedHill Biopharma

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

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.