Redhill Biopharma (NASDAQ:RDHL) Shares Cross Below 200-Day Moving Average – Here’s Why

Shares of Redhill Biopharma Ltd. (NASDAQ:RDHL) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.66 and traded as low as $1.28. Redhill Biopharma shares last traded at $1.39, with a volume of 78,354 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on shares of Redhill Biopharma in a research note on Friday, May 16th. They issued a “hold” rating for the company.

Redhill Biopharma Stock Up 4.5%

The stock’s 50 day simple moving average is $1.81 and its 200 day simple moving average is $2.66.

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.