iBio, Inc. (NYSEAMERICAN:IBIO) Short Interest Up 21.0% in April
iBio, Inc. (NYSEAMERICAN:IBIO) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 16,390,000 shares, an increase of 21.0% from the March 31st total of 13,540,000 shares. Based on an average daily volume of 11,290,000 shares, the short-interest ratio is presently 1.5 days.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in iBio by 112.5% during the 4th quarter. BlackRock Inc. now owns 11,575,051 shares of the biotechnology company’s stock worth $12,154,000 after purchasing an additional 6,126,946 shares during the period. Northern Trust Corp grew its position in iBio by 123.5% during the 4th quarter. Northern Trust Corp now owns 1,954,299 shares of the biotechnology company’s stock worth $2,052,000 after purchasing an additional 1,079,972 shares during the period. Principal Financial Group Inc. acquired a new stake in iBio during the 4th quarter worth about $1,075,000. JPMorgan Chase & Co. grew its position in iBio by 632.1% during the 4th quarter. JPMorgan Chase & Co. now owns 498,147 shares of the biotechnology company’s stock worth $523,000 after purchasing an additional 430,100 shares during the period. Finally, Morgan Stanley grew its position in iBio by 931.5% during the 3rd quarter. Morgan Stanley now owns 310,632 shares of the biotechnology company’s stock worth $631,000 after purchasing an additional 280,517 shares during the period. Institutional investors own 8.78% of the company’s stock.
IBIO stock traded down $0.06 during midday trading on Tuesday, reaching $1.29. The stock had a trading volume of 60,016 shares, compared to its average volume of 11,800,957. The company has a debt-to-equity ratio of 0.40, a current ratio of 16.84 and a quick ratio of 16.67. The firm has a fifty day simple moving average of $1.33. iBio has a 52-week low of $0.96 and a 52-week high of $7.45.
Several analysts have recently commented on IBIO shares. Zacks Investment Research upgraded iBio from a “sell” rating to a “hold” rating in a report on Tuesday, April 20th. Cantor Fitzgerald started coverage on iBio in a report on Thursday, January 21st. They set an “overweight” rating and a $3.00 price objective for the company.
iBio, Inc, a biotechnology company, provides contract development and manufacturing services to collaborators and third-party customers in the United States. Its lead therapeutic candidate is IBIO-100 that is being advanced for investigational new drug development for the treatment of systemic scleroderma, idiopathic pulmonary fibrosis, and related conditions.
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