RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Up 455.3% in August

RedHill Biopharma Ltd. (NASDAQ:RDHL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 120,500 shares, an increase of 455.3% from the August 15th total of 21,700 shares. Based on an average daily volume of 316,100 shares, the days-to-cover ratio is presently 0.4 days. Currently, 9.5% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of RedHill Biopharma in a research note on Saturday, August 24th. They set a “hold” rating for the company.

Institutional Trading of RedHill Biopharma

An institutional investor recently raised its position in RedHill Biopharma stock. Gagnon Securities LLC lifted its holdings in shares of RedHill Biopharma Ltd. (NASDAQ:RDHL) by 32.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,360 shares of the biotechnology company’s stock after buying an additional 28,771 shares during the period. Gagnon Securities LLC owned approximately 0.40% of RedHill Biopharma worth $63,000 at the end of the most recent reporting period. 7.20% of the stock is currently owned by institutional investors and hedge funds.

RedHill Biopharma Price Performance

Shares of RDHL traded up $0.27 on Friday, hitting $11.01. 39,804 shares of the stock traded hands, compared to its average volume of 137,852. RedHill Biopharma has a one year low of $6.43 and a one year high of $82.00. The business has a 50 day simple moving average of $9.60 and a 200 day simple moving average of $10.87.

About RedHill Biopharma

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.