iBio (NYSE:IBIO) Trading Down 0.6% – What’s Next?

iBio, Inc. (NYSE:IBIO)’s stock price was down 0.6% on Monday . The company traded as low as $2.44 and last traded at $2.55. Approximately 63,470 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,196,850 shares. The stock had previously closed at $2.56.

Analyst Upgrades and Downgrades

Separately, Brookline Capital Management assumed coverage on shares of iBio in a research report on Monday, July 22nd. They issued a “buy” rating and a $3.60 price objective on the stock.

iBio Stock Down 0.6 %

The stock has a 50-day moving average price of $2.35 and a two-hundred day moving average price of $2.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.08 and a quick ratio of 4.08.

Hedge Funds Weigh In On iBio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ikarian Capital LLC acquired a new position in shares of iBio in the 1st quarter valued at $2,436,000. Opaleye Management Inc. acquired a new stake in iBio during the 1st quarter worth about $2,761,000. Finally, Lynx1 Capital Management LP purchased a new stake in iBio during the 1st quarter valued at about $2,436,000. 7.90% of the stock is owned by hedge funds and other 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.