RedHill Biopharma (NASDAQ:RDHL) Shares Pass Below 200 Day Moving Average – Here’s What Happened

RedHill Biopharma Ltd. (NASDAQ:RDHL)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.27 and traded as low as $6.35. RedHill Biopharma shares last traded at $6.54, with a volume of 8,702 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on RedHill Biopharma in a research report on Friday. They set a “hold” rating for the company.

RedHill Biopharma Stock Performance

The company’s fifty day moving average price is $6.82 and its two-hundred day moving average price is $60.27.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC bought a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma at the end of the most recent quarter. 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.