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

Shares of Bionomics Limited (NASDAQ:BNOX) dropped 4.5% during trading on Thursday . The company traded as low as $0.24 and last traded at $0.25. Approximately 440,386 shares traded hands during 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 reaffirmed an “outperform” rating on shares of Bionomics in a report on Friday, November 15th.

Bionomics Price Performance

The stock’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.52.

Hedge Funds Weigh In On Bionomics

A hedge fund recently bought a new stake in Bionomics stock. Armistice Capital LLC bought a new stake in shares of Bionomics Limited (NASDAQ:BNOX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,226,759 shares of the company’s stock, valued at approximately $941,000. Armistice Capital LLC owned approximately 15.03% of Bionomics as of its most recent filing with the Securities & Exchange Commission. 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.