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

Analysts at StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued on Wednesday. The firm set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Down 6.0 %

NASDAQ RDHL opened at $3.14 on Wednesday. RedHill Biopharma has a one year low of $3.01 and a one year high of $20.28. The stock’s 50-day moving average is $5.56 and its 200-day moving average is $7.28.

Institutional Investors Weigh In On RedHill Biopharma

A hedge fund recently bought a new stake in RedHill Biopharma stock. GAMMA Investing LLC purchased a new stake in RedHill Biopharma Ltd. (NASDAQ:RDHL) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned 0.40% of RedHill Biopharma at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.20% of the company’s stock.

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.