RedHill Biopharma (NASDAQ:RDHL) Now Covered by StockNews.com

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

RedHill Biopharma Price Performance

Shares of RDHL stock opened at $0.45 on Thursday. The company’s 50 day moving average is $0.52 and its 200 day moving average is $0.74. RedHill Biopharma has a 52-week low of $0.26 and a 52-week high of $3.28.

Hedge Funds Weigh In On RedHill Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC grew its holdings in RedHill Biopharma by 59.8% in the second quarter. Virtu Financial LLC now owns 42,940 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 16,076 shares during the last quarter. BlackRock Inc. grew its holdings in RedHill Biopharma by 18.6% in the first quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company’s stock worth $901,000 after purchasing an additional 56,178 shares during the last quarter. Morgan Stanley grew its holdings in RedHill Biopharma by 15.0% in the fourth quarter. Morgan Stanley now owns 445,309 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 58,128 shares during the last quarter. Armistice Capital LLC purchased a new position in RedHill Biopharma in the first quarter worth $1,063,000. Finally, Renaissance Technologies LLC purchased a new position in RedHill Biopharma in the fourth quarter worth $49,000. 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 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.