BioLineRx Ltd.Long
Mean reversion for BLRX
BLRX dumped over 40% yesterday on dilution news, an overreaction from the market imo. Bought the bottom around $0.15 which is way undervalued for what the company has in the pipeline. Company is now cash healthy for a while with $10 million for research. It's trading at $1,49 on the TASE - so heavy arbitrage opportunity for market makers here. Next to that, it has a buy rating and target for 9.00/share - that was pre-dilution, so you know what, let's cut that in half to $4.50 - works for me too.
Buying the blood and targeting a 100 to 500% move for mean reversion.
Buying the blood and targeting a 100 to 500% move for mean reversion.
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