Redhill Biopharma Ltd. (NASDAQ:RDHL) Sees Significant Growth in Short Interest

Redhill Biopharma Ltd. (NASDAQ:RDHL) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 235,258 shares, an increase of 2,710.1% from the August 31st total of 8,372 shares. Based on an average daily volume of 748,437 shares, the days-to-cover ratio is presently 0.3 days. Currently, 4.2% of the shares of the company are sold short.

Redhill Biopharma Price Performance

Shares of RDHL stock traded down $0.02 during mid-day trading on Thursday, hitting $0.52. The company had a trading volume of 88,639 shares, compared to its average volume of 855,862. The stock’s 50 day moving average price is $0.65 and its 200-day moving average price is $0.80. Redhill Biopharma has a 52-week low of $0.52 and a 52-week high of $2.79. The company has a market capitalization of $3.16 million, a P/E ratio of 0.00 and a beta of 4.96.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Redhill Biopharma in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Redhill Biopharma stock. Yorkville Advisors Global LP purchased a new stake in shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 386,593 shares of the biotechnology company’s stock, valued at approximately $398,000. Redhill Biopharma makes up 0.3% of Yorkville Advisors Global LP’s holdings, making the stock its 19th biggest holding. Yorkville Advisors Global LP owned about 7.57% of Redhill Biopharma as of its most recent SEC filing. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

Redhill Biopharma Company Profile

RedHill Biopharma Ltd. was a specialty biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal diseases and certain infectious diseases. The company was founded in Israel and conducted operations primarily in the United States, where it pursued regulatory approval, commercialization and clinical development activities.

RedHill’s principal commercial product was Talicia, an oral combination of rifabutin, amoxicillin and omeprazole approved by the U.S.