RedHill Biopharma (NASDAQ:RDHL) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research report sent to investors on Friday. The firm issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Trading Up 2.8 %

Shares of RedHill Biopharma stock opened at $0.43 on Friday. The company’s 50-day moving average price is $0.51 and its two-hundred day moving average price is $0.74. RedHill Biopharma has a 52 week low of $0.26 and a 52 week high of $3.28.

Hedge Funds Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. Sabby Management LLC bought a new position in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma accounts for 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 17th biggest position. Sabby Management LLC owned about 5.74% of RedHill Biopharma at the end of the most recent quarter. 7.20% of the stock is currently owned by institutional investors and hedge funds.

About RedHill Biopharma

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.