Redhill Biopharma (NASDAQ:RDHL) Stock Passes Below 200-Day Moving Average – Time to Sell?

Redhill Biopharma Ltd. (NASDAQ:RDHL)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.45 and traded as low as $1.29. Redhill Biopharma shares last traded at $1.35, with a volume of 322,598 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Redhill Biopharma in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Redhill Biopharma presently has an average rating of “Sell”.

Redhill Biopharma Trading Up 3.1%

The stock has a market cap of $6.87 million, a price-to-earnings ratio of 0.00 and a beta of 4.87. The stock’s 50-day moving average is $1.18 and its 200-day moving average is $1.45.

Hedge Funds Weigh In On Redhill Biopharma

An institutional investor recently bought a new position in Redhill Biopharma stock. Gagnon Securities LLC bought a new stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 17,822 shares of the biotechnology company’s stock, valued at approximately $39,000. Gagnon Securities LLC owned 0.54% of Redhill Biopharma as of its most recent filing with the SEC. Institutional investors and hedge funds own 7.20% of the company’s stock.

Redhill Biopharma Company Profile

RedHill Biopharma Ltd. is a specialty biopharmaceutical company focused on the development and commercialization of proprietary, orally-administered small molecules for the treatment of inflammatory, gastrointestinal and oncology indications. Founded in 2009 and headquartered in Tel Aviv, Israel, RedHill is publicly traded on the Nasdaq under the symbol RDHL. The company’s strategy centers on in-licensing late-stage clinical candidates and advancing them through regulatory review toward global commercialization.

RedHill’s lead marketed product, Talicia® (formerly RHB-105), is an FDA-approved, three-drug treatment for Helicobacter pylori infection, co-commercialized in the United States through a partnership with Bausch Health.