Bionomics Limited (NASDAQ:BNOX) Sees Large Increase in Short Interest
March 15th total of 7,500 shares. Based on an average daily volume of 33,200 shares, the days-to-cover ratio is presently 0.3 days. The number of shares shorted increased 37.3% in the two-week period ending March 31st.
( ) accounted for a significant increase in short interest during March. On March 31, there were 10,300 shares of short interest, an increase of 37.3% compared to the 7,500 shares on March 15. The days-to-cover is 0.1 days based on an average trading volume 133,700 share.
Wall Street analysts forecast growth
Recently, several analysts weighed in with their opinions on BNOX. Evercore ISI upgraded Bionomics shares from an in-line' to an outperform rating in a report published on Friday, 10th March. The firm also set a target price of $6.00 for the stock. HC Wainwright reiterated a 'neutral rating' on Bionomics shares in a report published on Thursday, 9th March. Loop Capital raised their target price for shares of Bionomics to $17.00 in a report published on Thursday, 9th March. The company was also given a "buy" rating. Trading on Tuesday saw a $0.05 increase, bringing the price to $2.30. The stock traded 10,788 shares compared to the average of 127.153. Bionomics's 1-year low is $1.80, and its 1-year high is $10.90. The company has a 50-day moving average of $2.93, and a 200-day moving average of $5.14.
Hedge Funds weigh in on Bionomics
A recent purchase by an institutional investor has increased the stock of Bionomics. The company's most recent SEC filing shows that it acquired 128,000 shares of the company's stock, valued at approximately $595,000. The fund purchased 128,000 shares worth approximately $595,000. At the end of its most recent reporting period, Point72 Asset management L.P. held approximately 1.57% Bionomics. Institutional investors and hedge fund own 2.73%.
Bionomics Company profile
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Bionomics Limited is a biopharmaceutical clinical-stage company that discovers and develops new drug candidates to treat central nervous system disorders, including cancer. The company's leading drug candidate is BNC210, an allosteric negative modulator of a7 nicotinic receptor. It is currently in phase 2 trials for social anxiety disorder, and phase 2b trials to treat post-traumatic disorder.
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