iBio, Inc. (NYSEAMERICAN:IBIO) Sees Large Growth in Short Interest

iBio, Inc. (NYSEAMERICAN:IBIOGet Rating) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 12,660,000 shares, a growth of 22.6% from the March 15th total of 10,330,000 shares. Based on an average daily trading volume, of 2,270,000 shares, the days-to-cover ratio is presently 5.6 days. Currently, 5.9% of the shares of the company are short sold.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in iBio by 12.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 146,481 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 15,688 shares in the last quarter. Citigroup Inc. increased its position in iBio by 51.0% during the 3rd quarter. Citigroup Inc. now owns 47,775 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 16,133 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in iBio by 40.1% during the 4th quarter. BNP Paribas Arbitrage SA now owns 85,785 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 24,574 shares in the last quarter. Bank of America Corp DE increased its position in iBio by 32.2% during the 4th quarter. Bank of America Corp DE now owns 117,257 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 28,586 shares in the last quarter. Finally, AXS Investments LLC acquired a new stake in iBio during the 3rd quarter worth approximately $46,000. 20.54% of the stock is owned by institutional investors.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of iBio from a “sell” rating to a “hold” rating in a research report on Wednesday, March 30th. JMP Securities reiterated a “buy” rating and issued a $1.50 price objective on shares of iBio in a research report on Tuesday, February 15th.

NYSEAMERICAN:IBIO traded down $0.00 on Tuesday, reaching $0.34. The stock had a trading volume of 45,724 shares, compared to its average volume of 2,330,294. The firm has a market cap of $74.13 million, a price-to-earnings ratio of -2.67 and a beta of -5.36. The company has a current ratio of 8.09, a quick ratio of 7.85 and a debt-to-equity ratio of 0.24. iBio has a 12-month low of $0.28 and a 12-month high of $1.95.

iBio (NYSEAMERICAN:IBIOGet Rating) last posted its quarterly earnings data on Monday, February 14th. The biotechnology company reported ($0.05) EPS for the quarter. iBio had a negative net margin of 1,737.25% and a negative return on equity of 38.17%. The company had revenue of $0.17 million for the quarter. On average, equities research analysts forecast that iBio will post -0.2 earnings per share for the current fiscal year.

iBio Company Profile (Get Rating)

iBio, Inc, a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. The company operates in two segments: Biopharmaceuticals and Bioprocessing. Its lead therapeutic candidate is IBIO-100 that is being advanced for investigational new drug development for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis.

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