BioLineRx Shares Set to Reverse Split on Thursday, January 30th (NASDAQ:BLRX)

BioLineRx Ltd. (NASDAQ:BLRX)’s stock is going to reverse split on Thursday, January 30th. The 1-40 reverse split was announced on Friday, January 17th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, January 29th.

BioLineRx Trading Down 16.7 %

Shares of BLRX stock opened at $0.10 on Friday. BioLineRx has a fifty-two week low of $0.08 and a fifty-two week high of $1.44. The firm has a market capitalization of $8.11 million, a P/E ratio of -0.46 and a beta of 1.46. The stock’s fifty day moving average is $0.26 and its two-hundred day moving average is $0.49. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.37 and a current ratio of 1.52.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HC Wainwright decreased their price target on shares of BioLineRx from $21.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, November 25th. StockNews.com began coverage on shares of BioLineRx in a research note on Saturday, January 11th. They issued a “hold” rating on the stock.

Institutional Trading of BioLineRx

Large investors have recently added to or reduced their stakes in the stock. CVI Holdings LLC purchased a new position in shares of BioLineRx during the 2nd quarter worth $462,000. Atria Investments Inc raised its stake in BioLineRx by 27.9% during the third 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, PVG Asset Management Corp acquired a new position in BioLineRx in the 2nd quarter valued at about $70,000. 1.56% of the stock is currently owned by hedge funds and other institutional investors.

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.