iBio (NYSE:IBIO) Trading Up 10.5% – Still a Buy?

Shares of iBio, Inc. (NYSE:IBIOGet Free Report) shot up 10.5% during trading on Wednesday . The company traded as high as $0.99 and last traded at $0.90. 889,733 shares changed hands during mid-day trading, an increase of 101% from the average session volume of 443,682 shares. The stock had previously closed at $0.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBIO. Chardan Capital reaffirmed a “buy” rating and set a $5.00 target price on shares of iBio in a research report on Monday, May 5th. Wall Street Zen raised iBio to a “sell” rating in a research note on Tuesday, March 18th.

Check Out Our Latest Stock Report on IBIO

iBio Stock Performance

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 firm has a 50 day moving average price of $0.90 and a 200 day moving average price of $2.53.

Institutional Investors Weigh In On iBio

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in iBio by 52.3% during the fourth quarter. Geode Capital Management LLC now owns 83,797 shares of the company’s stock valued at $205,000 after buying an additional 28,775 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in iBio during the first quarter worth $224,000. Finally, Iridian Asset Management LLC CT purchased a new stake in iBio during the first quarter worth $234,000. Hedge funds and other institutional investors own 7.90% of the company’s stock.

About iBio

(Get Free Report)

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.

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