Shares of iBio, Inc. (NYSE:IBIO – Get 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
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
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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