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

StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Thursday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Trading Down 7.8 %

Shares of RedHill Biopharma stock opened at $0.42 on Thursday. RedHill Biopharma has a 12-month low of $0.26 and a 12-month high of $3.28. The business’s 50 day moving average is $0.41 and its 200-day moving average is $0.47.

Institutional Investors Weigh In On RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC boosted its stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,360 shares of the biotechnology company’s stock after purchasing an additional 28,771 shares during the quarter. Gagnon Securities LLC owned about 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent reporting period. Institutional investors 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.