iBio (NYSE:IBIO) Trading Up 10.5% – Here’s What Happened

iBio, Inc. (NYSE:IBIO) was up 10.5% during trading on Wednesday . The stock traded as high as $0.99 and last traded at $0.90. Approximately 889,733 shares were traded during mid-day trading, an increase of 101% from the average daily volume of 443,682 shares. The stock had previously closed at $0.81.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IBIO. Chardan Capital restated a “buy” rating and set a $5.00 target price on shares of iBio in a research note on Monday, May 5th. Wall Street Zen raised shares of iBio to a “sell” rating in a report on Tuesday, March 18th.

iBio Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.76 and a quick ratio of 1.76. The business has a 50 day moving average price of $0.90 and a two-hundred day moving average price of $2.53.

Hedge Funds Weigh In On iBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of iBio by 52.3% in the 4th quarter. Geode Capital Management LLC now owns 83,797 shares of the company’s stock worth $205,000 after buying an additional 28,775 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in iBio in the first quarter worth about $224,000. Finally, Iridian Asset Management LLC CT bought a new stake in iBio during the first quarter worth approximately $234,000. 7.90% of the stock is owned by institutional investors.

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.