Short Interest in RedHill Biopharma Ltd. (NASDAQ:RDHL) Grows By 455.3%

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 120,500 shares, a growth of 455.3% from the August 15th total of 21,700 shares. Approximately 9.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 316,100 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC lifted its stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the first quarter, according to the company in its most recent 13F filing with the 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. 7.20% of the stock is currently owned by institutional investors and hedge funds.

RedHill Biopharma Stock Performance

NASDAQ RDHL traded up $0.27 during trading on Friday, hitting $11.01. 39,804 shares of the stock traded hands, compared to its average volume of 137,852. The firm has a 50-day simple moving average of $9.60 and a 200-day simple moving average of $10.87. RedHill Biopharma has a 12-month low of $6.43 and a 12-month high of $82.00.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on RedHill Biopharma in a report on Saturday, August 24th. They set a “hold” rating for the company.

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.