Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Declines By 18.2%

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 741,500 shares, a decline of 18.2% from the March 31st total of 906,900 shares. Based on an average daily volume of 1,190,000 shares, the short-interest ratio is currently 0.6 days. Approximately 2.5% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in RedHill Biopharma stock. Armistice Capital LLC purchased a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 722,894 shares of the biotechnology company’s stock, valued at approximately $369,000. Armistice Capital LLC owned about 6.53% of RedHill Biopharma as of its most recent filing with the Securities and Exchange Commission. 7.20% of the stock is currently owned by institutional investors.

RedHill Biopharma Stock Up 1.4 %

RDHL traded up $0.01 during trading on Monday, hitting $0.43. 381,230 shares of the stock traded hands, compared to its average volume of 1,075,069. RedHill Biopharma has a twelve month low of $0.26 and a twelve month high of $3.28. The business has a 50 day moving average price of $0.51 and a 200 day moving average price of $0.75.

RedHill Biopharma Company Profile

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.