RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Down 94.8% in August

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totalling 21,700 shares, a decrease of 94.8% from the July 31st total of 417,400 shares. Based on an average trading volume of 304,200 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.7% of the shares of the stock are short sold.

RedHill Biopharma Price Performance

NASDAQ:RDHL traded up $0.38 on Wednesday, reaching $7.94. The stock had a trading volume of 51,358 shares, compared to its average volume of 142,382. RedHill Biopharma has a 1-year low of $6.43 and a 1-year high of $82.00. The stock has a fifty day moving average price of $215.91 and a 200-day moving average price of $272.60.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of RedHill Biopharma in a research note on Saturday. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On RedHill Biopharma

A hedge fund recently raised its stake in RedHill Biopharma stock. Gagnon Securities LLC raised its holdings in RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 SEC filing. 7.20% of the stock is 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.