BioLineRx Ltd. (NASDAQ:BLRX) Sees Significant Growth in Short Interest

BioLineRx Ltd. (NASDAQ:BLRX) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,060,000 shares, an increase of 70.6% from the October 15th total of 621,400 shares. Based on an average daily volume of 303,100 shares, the days-to-cover ratio is presently 3.5 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of BioLineRx in a research note on Wednesday, November 6th. StockNews.com assumed coverage on shares of BioLineRx in a research note on Friday, November 8th. They issued a “hold” rating for the company.

BioLineRx Stock Performance

Shares of BLRX stock traded up $0.02 during mid-day trading on Friday, reaching $0.48. The company’s stock had a trading volume of 345,832 shares, compared to its average volume of 348,838. BioLineRx has a 1-year low of $0.39 and a 1-year high of $1.93. The company has a current ratio of 1.61, a quick ratio of 1.49 and a debt-to-equity ratio of 1.34. The firm’s 50-day moving average is $0.51 and its two-hundred day moving average is $0.62.

BioLineRx (NASDAQ:BLRX) last announced its earnings results on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $5.39 million for the quarter, compared to analyst estimates of $3.93 million. As a group, sell-side analysts forecast that BioLineRx will post -0.03 EPS for the current year.

Institutional Investors Weigh In On BioLineRx

A number of hedge funds have recently made changes to their positions in BLRX. CVI Holdings LLC acquired a new stake in shares of BioLineRx during the 2nd quarter worth about $462,000. PVG Asset Management Corp bought a new stake in BioLineRx during the 2nd quarter worth about $70,000. Finally, Atria Investments Inc grew its holdings in BioLineRx by 27.9% during the 3rd quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after acquiring an additional 29,193 shares during the last quarter. Institutional investors and hedge funds own 1.56% of the company’s stock.

BioLineRx Company Profile

BioLineRx Ltd., a commercial stage biopharmaceutical company, develops and commercializes therapeutics for oncology and rare diseases. The company's pipeline includes APHEXDA (motixafortide), a peptide that is in Phase 1 clinical trial for the treatment of sickle cell disease, and Phase 2b clinical trial for the treatment of pancreatic cancer, as well as completed Phase 3 clinical trial for the treatment of multiple myeloma.