BioLineRx Ltd. (BLRX) Shares Down 2.9%

BioLineRx Ltd. (NASDAQ:BLRX) shares dropped 2.9% on Tuesday . The stock traded as low as $0.91 and last traded at $1.01. Approximately 417,500 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 476,881 shares. The stock had previously closed at $1.04.

BLRX has been the subject of several recent analyst reports. Roth Capital started coverage on shares of BioLineRx in a report on Thursday, August 3rd. They issued a “buy” rating and a $3.00 target price for the company. Zacks Investment Research upgraded shares of BioLineRx from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Maxim Group set a $3.00 price target on shares of BioLineRx and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Oppenheimer Holdings, Inc. started coverage on shares of BioLineRx in a research note on Friday, August 4th. They issued an “outperform” rating and a $3.00 price target on the stock. Finally, ValuEngine cut shares of BioLineRx from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $2.88.

An institutional investor recently bought a new position in BioLineRx stock. Renaissance Technologies LLC bought a new stake in shares of BioLineRx Ltd. (NASDAQ:BLRX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 131,480 shares of the biotechnology company’s stock, valued at approximately $126,000. Renaissance Technologies LLC owned approximately 0.21% of BioLineRx at the end of the most recent quarter. Institutional investors own 32.25% of the company’s stock.

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BioLineRx Company Profile

BioLine RX Ltd is an Israel-based company engaged in the development of therapeutics, from preclinical-stage development to advanced clinical trials, for a range of medical needs. Its clinical therapeutic candidates under development consist of BL-1020 that is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients; BL-1040, which is under pivotal CE-Mark registration trial for the prevention of cardiac remodeling following an acute myocardial infarction; BL-5010, which has completed Phase I/II clinical trials for non-surgical removal of skin lesions; BL-1021 that has completed Phase Ia clinical trial for the treatment of neuropathic pain or pain that results from damage to nerve fibers, and BL-7040, a synthetic oligonucleotide, which is in Phase II clinical trial for the treatment of inflammatory bowel disease.

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