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

Shares of BioLineRx Ltd. (NASDAQ:BLRX) are scheduled to reverse split on the morning of 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 Stock Down 16.7 %

BLRX opened at $0.10 on Friday. BioLineRx has a twelve month low of $0.08 and a twelve month high of $1.44. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 2.11. The company’s 50-day moving average price is $0.26 and its two-hundred day moving average price is $0.49. The stock has a market cap of $8.11 million, a price-to-earnings ratio of -0.46 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BLRX shares. HC Wainwright dropped their price objective on BioLineRx from $21.00 to $9.00 and set a “buy” rating on the stock in a report on Monday, November 25th. StockNews.com initiated coverage on shares of BioLineRx in a report on Saturday, January 11th. They set a “hold” rating on the stock.

Institutional Inflows and Outflows

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