Lynx1 Capital Management LP Decreases Stock Holdings in iBio, Inc. (NYSE:IBIO)

Lynx1 Capital Management LP reduced its stake in shares of iBio, Inc. (NYSE:IBIO) by 59.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,763 shares of the company’s stock after selling 359,237 shares during the period. iBio accounts for about 0.2% of Lynx1 Capital Management LP’s portfolio, making the stock its 11th largest holding. Lynx1 Capital Management LP owned approximately 2.79% of iBio worth $508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Separately, Ikarian Capital LLC purchased a new position in iBio in the first quarter worth approximately $2,436,000. 7.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on IBIO. Brookline Capital Management started coverage on shares of iBio in a research report on Monday, July 22nd. They issued a “buy” rating and a $3.60 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $5.00 target price on shares of iBio in a report on Monday, June 3rd.

iBio Stock Performance

IBIO stock opened at $1.95 on Friday. The stock’s 50 day simple moving average is $1.94. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.08 and a quick ratio of 1.69. iBio, Inc. has a fifty-two week low of $1.02 and a fifty-two week high of $7.83.

iBio Company Profile

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.