Bionomics (NASDAQ:BNOX) Shares Down 4.5% – Time to Sell?

Bionomics Limited (NASDAQ:BNOX)’s share price dropped 4.5% during mid-day trading on Thursday . The stock traded as low as $0.24 and last traded at $0.25. Approximately 440,386 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,841,457 shares. The stock had previously closed at $0.26.

Analyst Ratings Changes

Separately, William Blair restated an “outperform” rating on shares of Bionomics in a report on Friday, November 15th.

Bionomics Stock Down 4.5 %

The company’s 50 day moving average is $0.29 and its 200 day moving average is $0.52.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bionomics stock. Armistice Capital LLC purchased a new position in Bionomics Limited (NASDAQ:BNOX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,226,759 shares of the company’s stock, valued at approximately $941,000. Armistice Capital LLC owned 15.03% of Bionomics at the end of the most recent reporting period. Institutional investors own 15.90% of the company’s stock.

About Bionomics

Bionomics Limited, a clinical stage biopharmaceutical company, discovers and develops novel drug candidates for the treatment of central nervous system disorders and cancers. The company's lead drug candidate includes BNC210, a negative allosteric modulator of the a7 nicotinic acetylcholine receptor, which is in phase 2 clinical trial for the treatment of social anxiety disorder and phase 2b to treat post-traumatic stress disorder.