BioLineRx Ltd. (NASDAQ:BLRX) Sees Large Decrease in Short Interest

BioLineRx Ltd. (NASDAQ:BLRX) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 212,100 shares, a decline of 40.5% from the May 31st total of 356,200 shares. Based on an average daily trading volume, of 442,700 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of BioLineRx in a research note on Wednesday, May 29th. StockNews.com raised BioLineRx from a “sell” rating to a “hold” rating in a research note on Monday, June 3rd.

BioLineRx Stock Performance

Shares of NASDAQ BLRX remained flat at $0.57 during trading on Friday. The stock had a trading volume of 276,246 shares, compared to its average volume of 370,367. The stock has a fifty day moving average price of $0.65 and a 200-day moving average price of $1.04. BioLineRx has a twelve month low of $0.55 and a twelve month high of $2.53. The company has a current ratio of 1.14, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45.

BioLineRx (NASDAQ:BLRX) last posted its quarterly earnings results on Tuesday, May 28th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.28. The company had revenue of $6.86 million during the quarter, compared to analyst estimates of $0.34 million. During the same period in the prior year, the business earned ($0.15) EPS. On average, equities analysts forecast that BioLineRx will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BLRX. PVG Asset Management Corp purchased a new position in BioLineRx in the fourth quarter worth approximately $97,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in BioLineRx in the third quarter worth approximately $46,000. NorthRock Partners LLC purchased a new position in BioLineRx in the fourth quarter worth approximately $27,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in BioLineRx by 88.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,300 shares of the biotechnology company’s stock worth $39,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 1.56% of the company’s stock.

About BioLineRx

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.