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

StockNews.com started coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a research note issued on Friday. The brokerage set a “hold” rating on the biotechnology company’s stock.

RedHill Biopharma Stock Performance

RDHL opened at $2.99 on Friday. RedHill Biopharma has a 12 month low of $2.47 and a 12 month high of $20.28. The company has a fifty day simple moving average of $4.71 and a 200 day simple moving average of $6.84.

Hedge Funds Weigh In On RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. GAMMA Investing LLC bought a new stake in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,089 shares of the biotechnology company’s stock, valued at approximately $32,000. GAMMA Investing LLC owned approximately 0.40% of RedHill Biopharma as of its most recent filing with the Securities & Exchange Commission. 7.20% of the stock is currently 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.