Oppenheimer & Co. Inc. Decreases Position in Redhill Biopharma Ltd. (RDHL)
Oppenheimer & Co. Inc. trimmed its position in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) by 42.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,719 shares of the biotechnology company’s stock after selling 10,850 shares during the period. Oppenheimer & Co. Inc. owned about 0.09% of Redhill Biopharma worth $159,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its holdings in shares of Redhill Biopharma by 144.1% during the 1st quarter. Renaissance Technologies LLC now owns 62,000 shares of the biotechnology company’s stock valued at $595,000 after buying an additional 36,600 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Redhill Biopharma by 10.0% during the 2nd quarter. D.A. Davidson & CO. now owns 44,000 shares of the biotechnology company’s stock valued at $379,000 after buying an additional 4,000 shares in the last quarter. Family Management Corp grew its position in Redhill Biopharma by 51.5% during the 2nd quarter. Family Management Corp now owns 25,750 shares of the biotechnology company’s stock worth $222,000 after acquiring an additional 8,750 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Redhill Biopharma by 13.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,005 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 1,440 shares during the last quarter. 8.47% of the stock is currently owned by institutional investors.
RDHL has been the topic of several recent research reports. UBS initiated coverage on Redhill Biopharma in a research report on Wednesday, September 13th. They set a “reduce” rating on the stock. Zacks Investment Research upgraded Redhill Biopharma from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Roth Capital reduced their price target on Redhill Biopharma from $27.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Redhill Biopharma in a research report on Tuesday, November 21st. Finally, Seaport Global Securities initiated coverage on Redhill Biopharma in a research report on Friday, October 6th. They set a “buy” rating and a $19.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $21.10.
Redhill Biopharma Company Profile
Redhill Biopharma Ltd, is an Israel-based specialty biopharmaceutical company. The Company focuses on the development and commercialization of late clinical-stage, proprietary, orally-administered, small molecule drugs for the treatment of gastrointestinal and inflammatory diseases and cancer. It offers the following gastrointestinal products in the United States: Donnatal, a prescription oral adjunctive drug used in the treatment of Irritable Bowel Syndrome (IBS) and acute enterocolitis, as well as EnteraGam, a medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools.
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