Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Large Decline in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large decrease in short interest in July. As of July 15th, there was short interest totaling 19,996 shares, a decrease of 35.8% from the June 30th total of 31,149 shares. Based on an average daily trading volume, of 85,870 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.4% of the company’s stock are sold short.

Institutional Trading of Redhill Biopharma

An institutional investor 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 its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 386,593 shares of the biotechnology company’s stock, valued at approximately $398,000. Redhill Biopharma makes up approximately 0.3% of Yorkville Advisors Global LP’s portfolio, making the stock its 19th largest holding. Yorkville Advisors Global LP owned 7.57% 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 Stock Performance

NASDAQ RDHL opened at $0.68 on Friday. The company has a market cap of $4.15 million, a PE ratio of 0.00 and a beta of 4.98. The firm’s 50 day moving average price is $0.83 and its 200-day moving average price is $0.93. Redhill Biopharma has a 52-week low of $0.63 and a 52-week high of $2.79.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Redhill Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Redhill Biopharma has a consensus rating of “Sell”.

About Redhill Biopharma

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.