RedHill Biopharma (NASDAQ:RDHL) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of RedHill Biopharma (NASDAQ:RDHL) in a report issued on Saturday. The firm issued a hold rating on the biotechnology company’s stock.

RedHill Biopharma Stock Up 1.5 %

Shares of RedHill Biopharma stock opened at $0.46 on Friday. The stock’s fifty day moving average is $0.49 and its two-hundred day moving average is $0.75. RedHill Biopharma has a 52 week low of $0.26 and a 52 week high of $3.28.

Institutional Trading of RedHill Biopharma

An institutional investor recently bought a new position in RedHill Biopharma stock. Sabby Management LLC acquired a new position in RedHill Biopharma Ltd. (NASDAQ:RDHL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 635,006 shares of the biotechnology company’s stock, valued at approximately $324,000. RedHill Biopharma makes up about 0.2% of Sabby Management LLC’s holdings, making the stock its 17th largest holding. Sabby Management LLC owned about 5.74% of RedHill Biopharma as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 7.20% of the company’s stock.

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.