Taking a Closer Look At RedHill Biopharma Ltd. (RDHL) Following Its Recent Trade


As this happened, Cantor Fitzgerald initiated its RedHill Biopharma Ltd. [RDHL] rating to an Overweight in a research note published on Tuesday, August 31, 2021; the price target was $22. PT values the company’s stock at a premium of 99.18 to its Tuesday closing price. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in mid May with a ‘”a Buy”‘ rating. BTIG Research began covering RDHL with “Buy” recommendation on September 11, 2020. WBB Securities revised its rating on July 12, 2019. It rated RDHL as “a Strong buy” which previously was an “a Buy”.

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Price Performance Review of RDHL

On Tuesday, RedHill Biopharma Ltd. [NASDAQ:RDHL] saw its stock jump 5.26% to $0.18. On the same session, the stock had its day’s lowest price of $0.1715, but rose to a high of $0.183. Over the last five days, the stock has lost -6.10%. RedHill Biopharma Ltd. shares have risen nearly 28.30% since the year began. Nevertheless, the stocks have fallen -93.10% over the past one year. While a 52-week high of $3.27 was reached on 01/13/23, a 52-week low of $0.13 was recorded on 01/05/23. SMA at 50 days reached $0.2644, while 200 days put it at $0.8028. A total of 5.01 million shares were traded, compared to the trading of 2.06 million shares in the previous session.

Levels Of Support And Resistance For RDHL Stock

The 24-hour chart illustrates a support level at 0.1733, which if violated will result in even more drops to 0.1667. On the upside, there is a resistance level at 0.1848. A further resistance level may holdings at 0.1897. The Relative Strength Index (RSI) on the 14-day chart is 42.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0003, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 46.32%. Stochastics %K at 47.41% indicates the stock is a holding.

How much short interest is there in RedHill Biopharma Ltd.?

A steep rise in short interest was recorded in RedHill Biopharma Ltd. stocks on Oct 13, 2022, growing by 0.97 million shares to a total of 2.63 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 1.66 million shares. There was a rise of 36.88%, which implies that there is a positive sentiment for the stock.

RedHill Biopharma Ltd. [RDHL] – Who Are The Largest Shareholders?

In filings from Medical Strategy GmbH, it is revealed that the company now owns 1,381,299 shares, or roughly 1.52% of the outstanding RDHL shares. Additionally, Apo Asset Management GmbH increased 58.03% of its stake after which the total value it holdings stand at $122,656, while Millennium Management LLC added 67.29% of its stake to hold $87345.0 in the firm. Over the last quarter, Gagnon Securities LLC purchased 10,728 shares of RedHill Biopharma Ltd., while Morgan Stanley & Co. LLC bought 240,959 shares. At present, BlackRock Fund Advisors is holding 315,646 shares valued at $44190.0. Clutterbuck Capital Management, L owned 164,096 shares of the company at the time of its most recent 13F filing, worth $22973.0.

According to FactSet, RedHill Biopharma Ltd.’s share price will average $1.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 488.24 percent from its previous closing price of $0.17. Analysts expect RedHill Biopharma Ltd. stock to reach the higher price of $1.00, while the lowest price estimate is $1.00. However, 1 analyst have rated RDHL stock as a Buy in their predictions for 2023.


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