RedHill Biopharma (NASDAQ:RDHL) Stock Price Crosses Below 200 Day Moving Average of $10.89

RedHill Biopharma Ltd. (NASDAQ:RDHL) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.89 and traded as low as $10.39. RedHill Biopharma shares last traded at $10.85, with a volume of 74,011 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on RedHill Biopharma in a research report on Saturday, August 24th. They set a “hold” rating on the stock.

RedHill Biopharma Price Performance

The stock has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $10.89.

Institutional Inflows and Outflows

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC increased its position in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 approximately 0.40% of RedHill Biopharma worth $63,000 as of its most recent filing with the Securities & Exchange Commission. 7.20% of the stock is currently owned by institutional investors.

RedHill Biopharma Company Profile

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.