Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Drop in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 19,232 shares, a drop of 32.8% from the February 26th total of 28,626 shares. Based on an average trading volume of 34,499 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.4% of the company’s stock are short sold.

Institutional Trading of Redhill Biopharma

A hedge fund recently bought a new stake in Redhill Biopharma stock. Yorkville Advisors Global LP purchased a new position in Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 386,593 shares of the biotechnology company’s stock, valued at approximately $398,000. Redhill Biopharma comprises 0.3% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 19th biggest position. Yorkville Advisors Global LP owned 7.57% of Redhill Biopharma as of its most recent filing with the Securities and Exchange Commission (SEC). 7.20% of the stock is currently owned by institutional investors and hedge funds.

Redhill Biopharma Stock Performance

Shares of RDHL traded down $0.03 on Friday, hitting $0.75. 28,646 shares of the stock traded hands, compared to its average volume of 24,894. Redhill Biopharma has a one year low of $0.75 and a one year high of $3.31. The company has a market capitalization of $3.83 million, a PE ratio of 0.00 and a beta of 4.91. The business has a 50 day simple moving average of $1.02 and a 200 day simple moving average of $1.26.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Redhill Biopharma in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.