RedHill Biopharma Ltd. [NASDAQ: RDHL] closed the trading session at $0.27 on 12/02/22. The day’s price range saw the stock hit a low of $0.253, while the highest price level was $0.2834. The company report on December 2, 2022 that RedHill Biopharma Prices $8.0 Million Underwritten Public Offering.
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RedHill Biopharma Ltd. (Nasdaq: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company, today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be approximately $8.0 million, before deducting underwriting discounts and other expenses payable by the Company. The offering consists of 32,000,000 units/pre-funded units consisting of (a) one American Depositary Share (“ADS”) (or one pre-funded warrant to purchase one ADS in lieu thereof) and (b) one warrant to purchase one ADS (the “Warrants”) at a price to the public of $0.25 per ADS (or $0.249 per pre-funded unit after reducing $0.001 attributable to the exercise price of the pre-funded warrants). Each ADS represents 10 of our ordinary shares, par value NIS 0.01 per share. RedHill intends to use the net proceeds of the offering for working capital, acquisitions, and general corporate purposes.
The offering is expected to close on December 6, 2022, subject to the satisfaction of customary closing conditions.
The stocks have a year to date performance of -89.70 percent and weekly performance of -31.13 percent. The stock has been moved at -75.17 percent over the last six months. The stock has performed -59.85 percent around the most recent 30 days and changed -69.34 percent over the most recent 3-months.
If compared to the average trading volume of 3.00M shares, RDHL reached to a volume of 8606445 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about RedHill Biopharma Ltd. [RDHL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RDHL shares is $2.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RDHL stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for RedHill Biopharma Ltd. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 31, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on May 18, 2021, representing the official price target for RedHill Biopharma Ltd. stock.
The Average True Range (ATR) for RedHill Biopharma Ltd. is set at 0.06, with the Price to Sales ratio for RDHL stock in the period of the last 12 months amounting to 0.27.
RDHL stock trade performance evaluation
RedHill Biopharma Ltd. [RDHL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.13. With this latest performance, RDHL shares dropped by -59.85% in over the last four-week period, additionally sinking by -75.17% over the last 6 months – not to mention a drop of -90.30% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RDHL stock in for the last two-week period is set at 20.33, with the RSI for the last a single of trading hit 12.43, and the three-weeks RSI is set at 26.62 for RedHill Biopharma Ltd. [RDHL]. The present Moving Average for the last 50 days of trading for this stock 0.5361, while it was recorded at 0.3435 for the last single week of trading, and 1.1569 for the last 200 days.
RedHill Biopharma Ltd. [RDHL]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and RedHill Biopharma Ltd. [RDHL] shares currently have an operating margin of -94.61 and a Gross Margin at +42.39. RedHill Biopharma Ltd.’s Net Margin is presently recorded at -113.98.
Return on Equity for this stock declined to -860.29, with Return on Assets sitting at -54.12.
RedHill Biopharma Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.
RedHill Biopharma Ltd. [RDHL]: Insider Ownership positions
There are presently around $1 million, or 8.80% of RDHL stock, in the hands of institutional investors. The top three institutional holders of RDHL stocks are: MILLENNIUM MANAGEMENT LLC with ownership of 623,892, which is approximately 67.295% of the company’s market cap and around 12.96% of the total institutional ownership; MORGAN STANLEY, holding 387,181 shares of the stock with an approximate value of $0.1 million in RDHL stocks shares; and GAGNON SECURITIES LLC, currently with $0.1 million in RDHL stock with ownership of nearly 2.858% of the company’s market capitalization.
Positions in RedHill Biopharma Ltd. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 19 institutional holders increased their position in RedHill Biopharma Ltd. [NASDAQ:RDHL] by around 745,349 shares. Additionally, 19 investors decreased positions by around 2,126,223 shares, while 15 investors held positions by with 130,238 shares. The mentioned changes placed institutional holdings at 2,741,334 shares, according to the latest SEC report filing. RDHL stock had 5 new institutional investments in for a total of 97,510 shares, while 11 institutional investors sold positions of 2,077,636 shares during the same period.