RedHill Biopharma (NASDAQ:RDHL) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

RedHill Biopharma Ltd. (NASDAQ:RDHL) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $60.27 and traded as low as $6.35. RedHill Biopharma shares last traded at $6.54, with a volume of 8,702 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of RedHill Biopharma in a report on Friday. They issued a “hold” rating for the company.

RedHill Biopharma Stock Performance

The firm has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $58.41.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC acquired a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma at the end of the most recent reporting period. 7.20% of the stock is currently owned by hedge funds and other institutional investors.

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.