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 trading volume of 303,100 shares, the days-to-cover ratio is currently 3.5 days.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $21.00 price objective on shares of BioLineRx in a report on Wednesday, November 6th. StockNews.com initiated coverage on shares of BioLineRx in a research note on Friday, November 8th. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CVI Holdings LLC bought a new position in BioLineRx during the 2nd quarter worth approximately $462,000. Atria Investments Inc boosted its stake 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. Finally, PVG Asset Management Corp bought a new position in BioLineRx during the 2nd quarter worth approximately $70,000. Institutional investors own 1.56% of the company’s stock.

BioLineRx Trading Up 3.8 %

Shares of NASDAQ BLRX traded up $0.02 during mid-day trading on Friday, hitting $0.48. The company’s stock had a trading volume of 345,832 shares, compared to its average volume of 348,838. The company has a quick ratio of 1.49, a current ratio of 1.61 and a debt-to-equity ratio of 1.34. BioLineRx has a one year low of $0.39 and a one year high of $1.93. The company’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.62.

BioLineRx (NASDAQ:BLRX) last issued its earnings results on Thursday, August 15th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The business had revenue of $5.39 million during the quarter, compared to the consensus estimate of $3.93 million. Sell-side analysts anticipate that BioLineRx will post -0.03 earnings per share for the current fiscal year.

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.