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ARK Investment Management LLC Increases Position in RedHill Biopharma Ltd. (NASDAQ:RDHL)

Defense World ·  Sep 20, 2022 05:43

ARK Investment Management LLC grew its holdings in RedHill Biopharma Ltd. (NASDAQ:RDHL – Get Rating) by 21.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,045,023 shares of the biotechnology company's stock after acquiring an additional 183,225 shares during the quarter. ARK Investment Management LLC's holdings in RedHill Biopharma were worth $1,170,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in RDHL. HighTower Advisors LLC purchased a new position in RedHill Biopharma during the fourth quarter worth about $32,000. GSA Capital Partners LLP raised its holdings in RedHill Biopharma by 108.4% during the fourth quarter. GSA Capital Partners LLP now owns 218,338 shares of the biotechnology company's stock worth $563,000 after purchasing an additional 113,584 shares in the last quarter. Gagnon Securities LLC raised its holdings in RedHill Biopharma by 15.4% during the first quarter. Gagnon Securities LLC now owns 367,346 shares of the biotechnology company's stock worth $926,000 after purchasing an additional 49,023 shares in the last quarter. BlackRock Inc. raised its holdings in RedHill Biopharma by 18.6% during the first quarter. BlackRock Inc. now owns 357,493 shares of the biotechnology company's stock worth $901,000 after purchasing an additional 56,178 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in RedHill Biopharma by 0.7% during the first quarter. Disciplined Growth Investors Inc. MN now owns 1,950,002 shares of the biotechnology company's stock worth $4,914,000 after purchasing an additional 14,413 shares in the last quarter. 7.74% of the stock is owned by hedge funds and other institutional investors.

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RedHill Biopharma Stock Down 7.5 %

NASDAQ RDHL opened at $0.68 on Tuesday. RedHill Biopharma Ltd. has a 52-week low of $0.62 and a 52-week high of $6.50. The firm has a 50-day moving average price of $0.92 and a 200 day moving average price of $1.32. The company has a debt-to-equity ratio of 9.42, a current ratio of 0.98 and a quick ratio of 0.79.

RedHill Biopharma (NASDAQ:RDHL – Get Rating) last posted its quarterly earnings results on Thursday, June 23rd. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. RedHill Biopharma had a negative net margin of 110.31% and a negative return on equity of 822.29%. The firm had revenue of $18.24 million during the quarter. During the same period in the prior year, the company earned ($0.53) earnings per share. On average, equities research analysts predict that RedHill Biopharma Ltd. will post -0.83 earnings per share for the current fiscal year.

RedHill Biopharma Company Profile

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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.

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Want to see what other hedge funds are holding RDHL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RedHill Biopharma Ltd. (NASDAQ:RDHL – Get Rating).

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