StockNews.com Initiates Coverage on RedHill Biopharma (NASDAQ:RDHL)

Equities researchers at StockNews.com assumed coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a note issued to investors on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Price Performance

Shares of RDHL opened at $5.57 on Thursday. The firm has a 50-day simple moving average of $6.98 and a two-hundred day simple moving average of $67.97. The stock has a market cap of $7.14 million, a PE ratio of -0.56 and a beta of 3.69. RedHill Biopharma has a 1-year low of $5.41 and a 1-year high of $31.50.

Institutional Trading of RedHill Biopharma

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