iBio (NYSEAMERICAN:IBIO) Stock Price Passes Above 50-Day Moving Average of $0.00

iBio, Inc. (NYSEAMERICAN:IBIOGet Rating)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as high as $1.65. iBio shares last traded at $1.54, with a volume of 27,173 shares.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald cut shares of iBio from an “overweight” rating to a “neutral” rating in a report on Thursday, October 6th.

iBio Stock Down 5.5 %

The company has a market capitalization of $13.87 million, a P/E ratio of -0.41 and a beta of -3.78. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.01.

Institutional Trading of iBio

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in iBio by 7.5% during the third quarter. Vanguard Group Inc. now owns 11,884,917 shares of the biotechnology company’s stock valued at $2,024,000 after buying an additional 829,836 shares during the period. Millennium Management LLC bought a new stake in iBio during the second quarter valued at approximately $1,219,000. BlackRock Inc. grew its position in iBio by 71.7% during the third quarter. BlackRock Inc. now owns 6,799,636 shares of the biotechnology company’s stock valued at $1,158,000 after buying an additional 2,838,918 shares during the period. Renaissance Technologies LLC grew its position in iBio by 164.6% during the second quarter. Renaissance Technologies LLC now owns 1,151,377 shares of the biotechnology company’s stock valued at $304,000 after buying an additional 716,295 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in iBio by 10.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 586,227 shares of the biotechnology company’s stock valued at $252,000 after buying an additional 54,084 shares during the period. 13.26% of the stock is currently owned by institutional investors.

About iBio

(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 through two segments, Biopharmaceuticals and Bioprocessing. Its lead anti-fibrotic candidate is IBIO-100 for the treatment of systemic scleroderma and idiopathic pulmonary fibrosis.

Further Reading

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