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

BioLineRx Ltd. (NASDAQ:BLRX) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 212,100 shares, a decrease 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 presently 0.5 days.

BioLineRx Stock Performance

Shares of NASDAQ BLRX remained flat at $0.57 during mid-day trading on Friday. The company had a trading volume of 276,246 shares, compared to its average volume of 370,367. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.14 and a quick ratio of 1.05. BioLineRx has a 1 year low of $0.55 and a 1 year high of $2.53. The business has a 50-day simple moving average of $0.65 and a 200-day simple moving average of $1.04.

BioLineRx (NASDAQ:BLRX) last issued its quarterly earnings data on Tuesday, May 28th. The biotechnology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.28. The company had revenue of $6.86 million for the quarter, compared to analysts’ expectations of $0.34 million. During the same quarter last year, the company earned ($0.15) earnings per share. Equities research analysts expect that BioLineRx will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLRX. PVG Asset Management Corp acquired a new position in shares of BioLineRx in the fourth quarter valued at about $97,000. Allen Mooney & Barnes Investment Advisors LLC acquired a new position in shares of BioLineRx in the third quarter valued at about $46,000. NorthRock Partners LLC acquired a new position in shares of BioLineRx in the fourth quarter valued at about $27,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of BioLineRx by 88.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 21,300 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 10,000 shares during the period. 1.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on BLRX shares. StockNews.com upgraded BioLineRx from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. HC Wainwright restated a “buy” rating and set a $21.00 price objective on shares of BioLineRx in a research note on Wednesday, May 29th.

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.