RedHill Biopharma (NASDAQ:RDHL) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHLGet Rating) in a report issued on Thursday. The brokerage set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Down 8.3 %

Shares of RDHL traded down $0.04 during trading hours on Thursday, hitting $0.39. The company had a trading volume of 1,855,309 shares, compared to its average volume of 1,577,499. The firm has a market cap of $20.55 million, a price-to-earnings ratio of -0.27 and a beta of 2.07. The business has a fifty day moving average of $0.57 and a 200-day moving average of $0.80. RedHill Biopharma has a 12 month low of $0.25 and a 12 month high of $3.37.

Institutional Investors Weigh In On RedHill Biopharma

Several hedge funds have recently added to or reduced their stakes in RDHL. Disciplined Growth Investors Inc. MN increased its stake in RedHill Biopharma by 0.7% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,950,002 shares of the biotechnology company’s stock valued at $4,914,000 after purchasing an additional 14,413 shares in the last quarter. Virtu Financial LLC lifted its holdings in RedHill Biopharma by 59.8% during the second quarter. Virtu Financial LLC now owns 42,940 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 16,076 shares during the last quarter. Gagnon Securities LLC lifted its holdings in RedHill Biopharma by 15.4% during the first quarter. Gagnon Securities LLC now owns 367,346 shares of the biotechnology company’s stock valued at $926,000 after purchasing an additional 49,023 shares during the last quarter. BlackRock Inc. increased its position in shares of RedHill Biopharma by 18.6% during the first quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock valued at $901,000 after buying an additional 56,178 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of RedHill Biopharma by 21.3% during the second quarter. ARK Investment Management LLC now owns 1,045,023 shares of the biotechnology company’s stock valued at $1,170,000 after buying an additional 183,225 shares during the period. 7.74% of the stock is currently owned by institutional investors and hedge funds.

RedHill Biopharma Company Profile

(Get Rating)

RedHill Biopharma Ltd., a specialty biopharmaceutical company, primarily focuses on gastrointestinal and infectious diseases. The company promotes gastrointestinal drugs, including Movantik for opioid-induced constipation in adults with chronic non-cancer pain; Talicia for the treatment of Helicobacter pylori infection in adults; and Aemcolo for the treatment of travelers' diarrhea in adults.

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