RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Up 37.4% in March

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 46,700 shares, an increase of 37.4% from the February 28th total of 34,000 shares. Based on an average daily volume of 85,700 shares, the short-interest ratio is presently 0.5 days. Currently, 3.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC acquired a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned approximately 0.40% of RedHill Biopharma as of its most recent filing with the Securities & Exchange Commission. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

RedHill Biopharma Price Performance

NASDAQ:RDHL opened at $2.79 on Monday. RedHill Biopharma has a twelve month low of $2.47 and a twelve month high of $20.28. The company’s 50-day moving average price is $4.43 and its 200-day moving average price is $6.56.

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.