RedHill Biopharma Ltd. (NASDAQ:RDHL) Short Interest Up 181.8% in March

RedHill Biopharma Ltd. (NASDAQ:RDHL) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,060,000 shares, an increase of 181.8% from the February 29th total of 376,200 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On RedHill Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of RDHL. Virtu Financial LLC grew its stake in RedHill Biopharma by 59.8% in the 2nd quarter. Virtu Financial LLC now owns 42,940 shares of the biotechnology company’s stock worth $37,000 after buying an additional 16,076 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of RedHill Biopharma in the 4th quarter worth approximately $49,000. Morgan Stanley lifted its holdings in shares of RedHill Biopharma by 15.0% in the 4th quarter. Morgan Stanley now owns 445,309 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 58,128 shares during the last quarter. Millennium Management LLC bought a new stake in shares of RedHill Biopharma in the 2nd quarter worth approximately $324,000. Finally, Sabby Management LLC bought a new stake in shares of RedHill Biopharma in the 3rd quarter worth approximately $324,000. Hedge funds and other institutional investors own 7.20% of the company’s stock.

RedHill Biopharma Price Performance

RDHL stock opened at $0.51 on Thursday. RedHill Biopharma has a one year low of $0.26 and a one year high of $4.95. The firm has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $0.77.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of RedHill Biopharma in a research note on Thursday, November 30th. They set a “hold” rating for the company.

RedHill Biopharma Company Profile

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.