RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Up 181.8% in March

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,060,000 shares, a growth of 181.8% from the February 29th total of 376,200 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of RedHill Biopharma in a report on Thursday, November 30th. They set a “hold” rating for the company.

RedHill Biopharma Stock Performance

RDHL stock opened at $0.51 on Thursday. RedHill Biopharma has a 52-week low of $0.26 and a 52-week high of $4.95. The company has a 50-day moving average of $0.59 and a two-hundred day moving average of $0.77.

Institutional Investors Weigh In On RedHill Biopharma

A number of hedge funds have recently bought and sold shares of RDHL. Armistice Capital LLC acquired a new position in shares of RedHill Biopharma during the third quarter valued at about $369,000. Sabby Management LLC acquired a new position in shares of RedHill Biopharma during the third quarter valued at about $324,000. Millennium Management LLC acquired a new position in shares of RedHill Biopharma during the second quarter valued at about $324,000. Renaissance Technologies LLC acquired a new position in shares of RedHill Biopharma during the fourth quarter valued at about $49,000. Finally, Morgan Stanley raised its position in shares of RedHill Biopharma by 15.0% during the fourth quarter. Morgan Stanley now owns 445,309 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 58,128 shares during the last quarter. 7.20% of the stock is currently owned by institutional investors.

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.