Chardan Capital Reiterates Buy Rating for iBio (NYSE:IBIO)

iBio (NYSE:IBIO)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $5.00 target price on the stock.

Separately, Wall Street Zen upgraded iBio to a “sell” rating in a research note on Tuesday, March 18th.

iBio Stock Down 2.7%

NYSE:IBIO opened at $0.71 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 1.76. The stock’s fifty day moving average is $0.86 and its two-hundred day moving average is $2.45. iBio has a 52 week low of $0.64 and a 52 week high of $6.89.

Institutional Trading of iBio

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of iBio by 52.3% in the fourth quarter. Geode Capital Management LLC now owns 83,797 shares of the company’s stock valued at $205,000 after acquiring an additional 28,775 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of iBio in the first quarter valued at $224,000. Finally, Iridian Asset Management LLC CT acquired a new stake in shares of iBio in the first quarter valued at $234,000. 7.90% of the stock is currently owned by institutional investors and hedge funds.

About iBio

iBio, Inc, a biotechnology company, engages in the development of precision antibodies in the United States. It offers IBIO-100, a preclinical anti-fibrotic program for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis; and EngageTx platform, which provides an optimized CD3 T-cell engager antibody panel.