StockNews.com Initiates Coverage on RedHill Biopharma (NASDAQ:RDHL)

StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of NASDAQ RDHL opened at $0.36 on Friday. The company’s 50-day moving average price is $0.43 and its 200 day moving average price is $0.64. RedHill Biopharma has a 52 week low of $0.26 and a 52 week high of $3.28.

Institutional Investors Weigh In On RedHill Biopharma

A number of large investors have recently bought and sold shares of the stock. Gagnon Securities LLC grew its holdings in shares of RedHill Biopharma by 32.1% during the first quarter. Gagnon Securities LLC now owns 118,360 shares of the biotechnology company’s stock worth $63,000 after buying an additional 28,771 shares in the last quarter. Sabby Management LLC acquired a new stake in shares of RedHill Biopharma during the third quarter worth $324,000. Finally, Armistice Capital LLC purchased a new stake in shares of RedHill Biopharma in the third quarter valued at $369,000. Institutional investors and hedge funds own 7.20% of the company’s stock.

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.