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

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

RedHill Biopharma Price Performance

NASDAQ:RDHL opened at $0.36 on Friday. The firm has a 50 day simple moving average of $0.42 and a 200-day simple moving average of $0.60. RedHill Biopharma has a 1-year low of $0.26 and a 1-year high of $3.28.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC increased its position in RedHill Biopharma Ltd. (NASDAQ:RDHLFree Report) 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 fund owned 118,360 shares of the biotechnology company’s stock after buying an additional 28,771 shares during the period. Gagnon Securities LLC owned about 0.40% of RedHill Biopharma worth $63,000 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

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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.

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