BioLineRx (NASDAQ:BLRX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of BioLineRx (NASDAQ:BLRX) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the biotechnology company’s stock.

Separately, HC Wainwright cut their price objective on BioLineRx from $21.00 to $9.00 and set a “buy” rating for the company in a report on Monday, November 25th.

BioLineRx Trading Down 6.6 %

Shares of NASDAQ BLRX opened at $0.20 on Wednesday. The business has a 50 day simple moving average of $0.37 and a 200 day simple moving average of $0.56. BioLineRx has a 52 week low of $0.19 and a 52 week high of $1.70. The stock has a market cap of $15.60 million, a price-to-earnings ratio of -0.89 and a beta of 1.39. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.37 and a current ratio of 1.52.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PVG Asset Management Corp acquired a new position in shares of BioLineRx in the second quarter valued at approximately $70,000. Atria Investments Inc boosted its stake in BioLineRx by 27.9% in the 3rd quarter. Atria Investments Inc now owns 133,974 shares of the biotechnology company’s stock worth $72,000 after purchasing an additional 29,193 shares during the period. Finally, CVI Holdings LLC bought a new position in BioLineRx during the 2nd quarter worth about $462,000. 1.56% of the stock is owned by institutional investors and hedge funds.

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.